Tata Communications Q1 revenue at Rs 4,498 cr, up 10 percent

Tata Communications’ consolidated gross revenues increased 10 percent year-on-year to Rs 4,498 crore.

The gross revenues for core business improved by 10 percent at Rs 4,019 crore from Rs 3,646 crore during Q1 FY2013.

Global Voice Services (GVS) maintained its growth trend in volume of International Long Distance (ILD) minutes. The ILD voice minutes carried in Q1 FY2014 were at 13.9 bn, up from 13.1 bn minutes in Q1 FY2013. GVS net revenues registered a 12 percent Y-o-Y growth in Q1 FY14.

Global Data Services (GDS) gross revenues maintained its growth momentum at 12 percent with Rs 1,796 million during the reporting quarter, up from Rs 1,598 crore last year in Q1 FY2013.

The start-up business, primarily Neotel, posted a further revenue improvement of 4 percent at Rs 479 crore up from last year which stood at Rs 461 crore. In local currency terms, Neotel’s Q1 FY14 revenues were up by 17.7 percent Y-o-Y. The start-up business EBITDA margins were at 21 percent in Q1 FY2014 compared to 12.8 percent in Q1 FY2013.

Neotel’s performance benefited from market-share gains, an evolving business mix in favor of recurring revenues and sustained cost optimisation efforts.

Commenting on the performance Vinod Kumar, MD and CEO, Tata Communications said, “We have surpassed last year’s performance on all financial parameters with strong revenue and EBITDA growth which sees us continue to outpace our peers in the market. Our focus on talent, service innovation and marketing is enabling our business with wider market appeal and allows us to offer greater value to our customers.”

Despite the continued softness in economic conditions, our business is pushing ahead with good momentum added Kumar.

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