Tata Communications has galloped over 10% to Rs 252 on BSE, after reporting a consolidated net profit of Rs 80 crore for the second quarter ended September 2013 (Q2) on the back of growth in managed services and voice offerings. The company had reported loss of Rs 274 crore in the corresponding quarter of previous fiscal.
Total income from operations grew by 16% at Rs 4,953 crore on year on year basis. The company’s EBITDA or operating profit sees a sharp rise of 90% at Rs 836 crore during the recently concluded quarter.
The growth during the quarter under review was mainly attributed to global increase in demand across all segments, Tata Communications said in a statement.
The company said its wholesale voice business continues to outpace the global market growth rate.
"Global voice services continued on its growth path with a total of 15.4 billion minutes carried on the network on Q2 FY 14- up from 15.2 billion minutes in Q2 FY 13," it said.
The stock opened at Rs 237 and hit a 52-week high of Rs 258 on BSE. A combined around 250,000 shares have changed hands on the counter on BSE and NSE.
Total income from operations grew by 16% at Rs 4,953 crore on year on year basis. The company’s EBITDA or operating profit sees a sharp rise of 90% at Rs 836 crore during the recently concluded quarter.
The growth during the quarter under review was mainly attributed to global increase in demand across all segments, Tata Communications said in a statement.
The company said its wholesale voice business continues to outpace the global market growth rate.
"Global voice services continued on its growth path with a total of 15.4 billion minutes carried on the network on Q2 FY 14- up from 15.2 billion minutes in Q2 FY 13," it said.
The stock opened at Rs 237 and hit a 52-week high of Rs 258 on BSE. A combined around 250,000 shares have changed hands on the counter on BSE and NSE.
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