Tata Comm reports net loss of Rs 273 cr in Q2 2013

New Update

Tata Communications has posted a net loss of Rs 273 crore in the second quarter 2012-13 as compared to Rs 142 crore in the previous quarter; decline by 92.9% sequentially and 66% year-over-year from Rs 142 crore in Q2 2012.

Revenue for the quarter at Rs 4,271 crore grew 27% compared to Rs 3,373 crore in the Q2 FY 2012.

Vinod Kumar, MD and Group CEO, Tata Communications stated,"We have sustained top-line momentum in an environment that has continued to be challenging, globally. The size and scale of our Core Business has been growing consistently, benefiting from a combination of our investments in global infrastructure. We are enthused by the potential we see in the emerging markets and are committed to developing a leadership business in these regions. Our efforts to drive sales at Neotel are bearing visible results while our initiatives at streamlining operations have fundamentally strengthened the business and its ability to deliver strong results.