Tata Comm shares fall nearly 3% on weak results

Shares of Tata Communications today fell by nearly 3 per cent after the company reported a consolidated net loss of Rs 21.38 crore for the first quarter of 2014-15 financial year.
Tata Comm settled 2.42 per cent lower at Rs 369.25 on the BSE. During the day, it fell by 3.34 per cent to Rs 365.75.
At the NSE, the scrip was down 2.60 per cent to end the session at Rs 368.40.
The company had reported a net profit of Rs 94.52 crore in the corresponding period last fiscal, it had said in a filing to the BSE yesterday.

Total income from operations, however, rose 13.64 per cent to Rs 5,111.72 crore for the reported quarter as compared to Rs 4,497.98 crore in the same period last year.
The company said revenue from operations from the core business improved 12 per cent at Rs 4,518.6 crore from Rs 4,018.8 crore during the corresponding quarter a year ago.