Tata Communications has reported results for first quarter ended June 30, 2014.
The company’s net profit has declined by 45.77% at Rs 125.65 crore as compared to Rs 231.71 crore for the quarter ended June 30, 2013. Its total income has decreased marginally by 1.51% to Rs 1186.86 crore for the quarter under review from Rs 1205.11 crore for the corresponding quarter of the previous year.
On the consolidated basis, the company has reported a net loss of Rs 21.38 crore for the quarter as compared to a net profit of Rs 94.52 crore for the same quarter in the previous year. However, total income has increased by 14.40% at Rs 5175.99 crore for quarter under review as compared to Rs 4524.34 crore for the quarter ended June 30, 2013.
Consequent to the order of the Bombay High Court dated January 24, 2014, approving the Scheme of Arrangement, the transfer of the IDC division (Colocation service division of the Company) to Tata Communications Data Centers (TCDC) was effected from January 01, 2013 in terms of the Scheme during the quarter ended March 31, 2014. Accordingly the results for the standalone quarter ended March 31, 2014 reflect the effect of the Scheme and are not comparable with the results of the other periods.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1846.55 |
| Vodafone Idea | 9.62 |
| Indus Towers | 412.35 |
| Tata Communications | 1521.05 |
| Bharti Hexacom Ltd. | 1538.30 |
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