Tuesday, February 09, 2010
Tata's net profit soars 203%
Tata's net profit soars 203%
Telecom Asia Staff |
January 30, 2009
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Global bandwidth provider Tata Communications tripled its net profit last quarter, thanks to strong growth in voice and data.
The company netted 810 million rupees ($16.56 million) for the quarter, a 203% year-on-year increase. Revenue increased 17% year-on-year to reach $202.4 million.
'The company´s performance has continued to be strong despite a challenging business environment," said Tata CEO Srinath Narasimhan.
For the first nine months of the financial year, Tata recorded an EBITDA of $131.6 million on revenue of $580 million.
The company saw an upsurge in both voice and data. Voice traffic grew by around 20% to 26 billion minutes. Tata's voice business took in around $46.8 million during the period - a 73% increase. Data revenue grew 23% year-on-year.
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