Tata Communications reports Rs 123 cr loss for Q4

Tata Communications today reported a net loss of Rs 123.19 crore for the quarter ended March 31, 2014.

The company had posted a net loss of Rs 5.20 crore for the corresponding quarter last fiscal.

Total income from operations rose by 18.6% to Rs 5,219.31 crore for the reported period compared to Rs 4,400.46 crore in the year-ago period, the company said in a filing to the BSE.

For fiscal 2014, the company reported a net profit of Rs 101.42 crore against a net loss of Rs 623.31 crore for 2012-13. Total income from operations stood at Rs 19,665.90 crore in FY14 against Rs 17,212.95 crore in the previous year.

"Tata Communications has delivered a year of strong growth and has strengthened its competitive positioning in the market. Our ongoing focus on execution, talent development and sharpening our value proposition is delivering tangible value," Tata Communications MD and CEO Vinod Kumar said.

The company said growth in revenues was broad based with strong momentum across all segments.

The core business revenue from operations stood at Rs 17,450.9 crore (USD 2,885 million) in FY14 against Rs 15,318.1 crore (USD 2,817 million) in the previous year, posting a growth of 14%.

The wholesale voice business continued to outpace the global market growth rate recording 11% growth in revenue from operations compared to FY2013, it said.

"Global data segment recorded a strong year with 17% growth in revenues, primarily attributed to strong demand from global enterprise customers for Ethernet, VPN solutions and a host of managed services," it added.

FY14 consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) stood at Rs 3,041.6 crore (USD 503 million) from Rs 2,059.7 crore (USD 379 million) in the last year, recording a growth of 48%.

"We continue our focus on securing future growth and driving cost efficiencies across our business," Tata Communications CFO Sanjay Baweja said.