Tata Communications profits slide 67%, despite revenue surge

29 Oct 2008

Tata group subsidiary Tata Communications saw its profits slide 67% during the company's second quarter, despite a surge in revenue.

The company earned 326.4 million rupees ($6.62 million) during the quarter, a far cry from its year-ago earnings of $17.6 million.

Yet revenue increased significantly, reaching $205.7 million, compared to $168.6 million a year ago.

Tata Teleservices (TTSL) - a fellow Tata Group subsidiary - posted another loss for the quarter.

But the $955,000 loss was around 4% less than the company lost during the equivalent quarter last year.

This was helped along by a 21% year-on-year increase in revenue for the quarter, which grew to around $104.5 million.

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