India's Tata Communications reported, one of the world's biggest undersea cable network owners said that its consolidated net loss rose to 2.61 billion rupees ($47 million) for the three months ended March from 1.57 billion rupees a year earlier.
Total income rose to 40.15 billion rupees from 31.46 billion.
For the fiscal year, consolidated net loss rose to 7.95 billion rupees from 7.77 billion for the former state monopoly, which is now majority owned by the salt to software Tata conglomerate. The Indian government still owns 26 percent of the company.
Iit announced that its consolidated gross revenues grew to Rs. 141,961 million last year. This comprised of Core Business revenues of Rs. 124,580 million (USD 2,600 million) as compared Rs. 113,205 million (USD 2,484 million) for FY2011 and Startup revenues which improved to Rs. 17,381 million (USD 363 million) from Rs. 6,115 million (USD 134 million) in the previous year. Tata Communications was PBT positive on a full year basis at the Core Business level.
Global Voice Services (GVS) business reported total voice minutes at 55 billion minutes from 51 billion minutes in FY2011 on an overall level. GVS accounted for 55% of the Core Business revenues and Global Data Services (GDS) accounted for 45% in FY2012.
The Startup Business, primarily Neotel, showed revenues of Rs. 17,381 million (USD 363 million) in FY2012 from Rs. 6,115 million (USD 134 million) in FY2011. The Business has delivered a positive EBITDA on a standalone basis for the first time.
Commenting on the results, Vinod Kumar, MD and CEO, Tata Communications, said, “Our main focus this year was profitability and this is reflected in our Core business which has registered a robust performance. The South African operation, Neotel, has also ended the year on an EBITDA positive note. We launched several new products in the last quarter which have held us in good stead. In these uncertain times, we are well poised to partner with our clients for their communications and technology requirements as they look to diversify and grow their business across different geographies.”