Mumbai (BSE), May 22, 2012
19% increase in consolidated gross revenues YoY
Recommends dividend of Rs. 2 per share
Mumbai (BSE) – 22 May 2012 – Tata Communications announced its financial results for the quarter and year ended March 31, 2012. Consolidated gross revenues grew to Rs. 141,961 million (USD 2,963 million @avg. Fx of USD/INR 47.91) in FY2012 from Rs. 119,320 million (USD 2,618 million @avg. Fx of USD/INR 45.57) 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.
Consolidated gross revenues stood at Rs. 39,613 million (USD 787 million @avg. Fx of 50.34 USD/INR) in Q4 FY2012, an increase from Rs. 36,041 million (USD 709 million @avg. Fx of 50 84 USD/INR) in the sequentially previous quarter and at Rs. 30,688 million (USD 678 million @avg. Fx of 45.29 USD/INR) in Q4 FY11.
The Core Business reported revenues of Rs. 35,090 million (USD 697 million) up from Rs. 31,648 million (USD 622 million) in Q3 FY2012 and from Rs. 29,076 million (USD 642 million) in the same quarter last year. The Startup Business, comprising chiefly of Neotel, posted higher revenues of Rs. 4,522 million (USD 90 million) in Q4 FY2012 against Rs. 1,613 million (USD 36 million) in the same quarter last year.
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.”
A presentation providing the definitions and a detailed analysis of the results for the quarter and year ended March 31, 2012 has been uploaded on the Tata Communications website and can be accessed at:
FOR IMMEDIATE RELEASE
+44 (0)7833 043 779
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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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