Tata Comms posts $129m loss on Neotel

Nicole McCormick
01 Jun 2010

Global bandwidth carrier Tata Communications has recorded a full-year loss, mostly due to its stake in South African firm Neotel.

However, it turned around its operating result, posting ebitda of 10.12 billion rupees ($218.7m) in the year to March, compared with a 13.66 billion rupees loss the previous year.

The firm reported a net loss of 5.98 billion rupees ($129m) for the year, held down by a 4.64 billion rupees loss from its 49% holding in South African operator Neotel and a 4.1 billion rupees depreciation hit.

Sales grew 10.7% to 110.26 billion rupees. India-only ebitda increased 10.9% to 1.97 billion rupees, which was 34% ahead of Credit Suisse’s estimates.

Management said the growth was driven by stable pricing and rising volumes in the data segment.

During the year, Tata Communications signed a five-year agreement to become BT’s main IDD supplier outside the UK.

Related content

No Comments Yet! Be the first to share what you think!

This website uses cookies

This provides customers with a personalized experience and increases the efficiency of visiting the site, allowing us to provide the most efficient service. By using the website and accepting the terms of the policy, you consent to the use of cookies in accordance with the terms of this policy.