Tata Comm Mar-qtr loss widens to Rs 260.81 cr

Tata Comm Mar-qtr loss widens to Rs 260.81 cr

05/05/2017 12:36

Leading telecom services provider Tata Communications Ltd has reported that its consolidated net loss widened to Rs 260.81 crore in January-March quarter of 2017.

“The consolidated net loss of the company stood at Rs 256.95 crore during the same period a year ago,” Tata Communications Ltd said in a filing to the Bombay Stock Exchange.

It’s consolidated total income from operations, too, fell by 7.5 per cent at Rs 4,394.88 crore during March quarter of 2017, as compared to Rs 4,753.49 crore during the same period last year.

Quarterly revenue and EBITDA — Earnings before interest, tax, depreciation and amortization growth were impacted by the exclusion of the India and Singapore data centre revenue, demonetisation impact and one-off expenses due to cable repair, employee related expenses and legal and professional fees, it said in a statement.

“Market demand for our services remain strong and we continue to increase our wallet share with large global enterprises. The conclusion of the Data Center and Neotel deals makes us stronger, more agile. This will help drive focus and momentum into our evolution from a traditional telco to a next generation digital enablement provider,” Tata Communications, MD and CEO, Vinod Kumar said.

The company’s board has recommended a normal dividend of 45 per cent (Rs 4.50 per share of the face value of Rs 10 each) and a one-time special dividend of 15 per cent (Rs 1.50 per share of the face value of Rs 10 each), thus aggregating to a total dividend of 60 per cent (Rs 6 per share of the face value of Rs 10 each) for the Financial Year 2016-17.

Meanwhile, shares of the company were trading at Rs 640 apiece, down 9.18 per cent, from previous close on BSE at 12:39 hours.

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