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Tata Communications reports a net loss of Rs 2.05 billion for the quarter ended March 2016

May 30, 2016
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Tata Communications has reported a 14.97 per cent increase in its consolidated net loss from 1.78 billion during the quarter ended March 2015 to Rs 2.05 billion during the corresponding quarter in 2016. According to the company, this was on account of impairment of equity in its subsidiary, Tata Teleservices Limited (TTSL). Meanwhile, the company’s income from operations increased by 6.8 per cent from Rs 48.15 billion to Rs 51.45 billion during the same period.

For the year ended March 2016, the company has reported a consolidated loss of Rs 2.12 billion against a net profit of Rs 12.9 million for the year ended March 2015. This was despite an increase of 3.47 per cent in the company’s annual income from operations from Rs 199.13 billion to Rs 206.05 billion during the same period.

Further, the company has informed that Singapore Technologies Telemedia has agreed to acquire a 74 per cent stake in Tata Communications’ data centre business in India and Singapore for about Rs 31.5 billion. The deal includes Tata Communications’ 14 data centres across India and three facilities in Singapore.

 
 
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