Mumbai (BSE) – 26th July 2012 – Tata Communications announces its financial results for the quarter ended June 30, 2012 today.
Consolidated Gross Revenues increased to Rs. 41,074 million (USD 761 million @avg. Fx of INR/USD 53.98) in Q1 FY2013 from Rs. 32,571 million (USD 728 million @avg. Fx of INR/USD 44.73) in the same quarter last year. The Core Business reported Revenues of Rs. 36,464 million (USD 676 million) from Rs. 28,763 million (USD 643 million) in Q1 FY2012. Tata Communications turned EBIT positive for Q1 FY 2013 at the consolidated level.
Global Voice Services (GVS) maintained above market average growth and registered a total of 15.8 bn voice minutes, an increase from 13.6 bn minutes in Q1 FY2012. Global Data Services (GDS) improved its trajectory growing at 26% to 15,980 million (USD 296 million) in Q1 FY2013 from Rs. 12,640 million (USD 283 million) in Q1 FY2012.
The Startup Business, which largely maps to Neotel, posted a growth in revenues of 21% at Rs. 4,610 million (ZAR 693 million @ avg. Fx of INR/ZAR 6.65) up from Rs. 3,808 million (ZAR 578 million @ avg. Fx of INR/ZAR 6.59) in the corresponding quarter last year. Neotel improved its operating profitability with EBITDA margins of 13.5% in Q1FY2013 versus 6% in Q4 FY2012.
Commenting on the performance of Q1 FY2013, Vinod Kumar, MD and CEO, Tata Communications, says, “We are growing faster than the industry average with our Core business benefitting from our expanded, wholly owned, round the world sub-sea connectivity. We have introduced service enhancements and newer platforms for conducting business more efficiently and have a sharper focus on strategic verticals such as financial solutions, business video and data centres. I am also pleased to report that Neotel’s improved profitability is a strong reflection on the growth and operational efficiency initiatives we have invested in over the last year.”
AWARDS & RECOGNITION
A presentation providing the definitions and a detailed analysis of the results for the quarter ended June 30th, 2012 has been uploaded on the Tata Communications website and can be accessed athttp://www.tatacommunications.com/downloads/investors/analyst/Tata_Communications_FY2013_Q1_results_Analyst_Presentation.pdf
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Tata Communications Limited (CIN no: L64200MH1986PLC039266) along with its subsidiaries (Tata Communications) is a leading global provider of A New World of Communications™. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
The Tata Communications global network includes one of the most advanced and largest submarine cable networks and a Tier-1 IP network with connectivity to over 240 countries and territories across 400 PoPs, as well as nearly 1 million square feet of data centre and collocation space worldwide.
Tata Communications’ depth and breadth of reach in emerging markets includes leadership in Indian enterprise data services and leadership in global international voice. Tata Communications Limited is listed on the Bombay Stock Exchange and the National Stock Exchange of India.
Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications’ expected financial position, business strategy, the future development of Tata Communications’ operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications’ network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company’s communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications’ industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications’ control, include, but are not limited to, those risk factors discussed in Tata Communications Limited’s Annual Reports. The Annual Reports of Tata Communications Limited are available at www.tatacommunications.com. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements.
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