Tata Communications Ltd., or Tata Com., global provider of the new world of communications, reported a higher stand-alone net profit for the fourth-quarter, on the Indian GAAP basis, on higher income. Results for preceding year quarter impacted due to one-time charge.
On a consolidated basis, the loss widened from that of last year due to higher network costs.
On an Indian GAAP basis, the Mumbai-based company posted a fourth-quarter net profit of Rs.38.20 crore or Re.1.34 per share, compared with Rs.25.17 crore or Re.0.88 per share in the year-ago quarter, an increase of 52 percent.
Results for the preceding year quarter included a one-time charge of Rs.25.15 crore towards fixed assets written off and a gain of Rs.4.04 crore on account of interest on income tax refund.
Its quarterly income from operations stood at Rs.1,100.64 crore, up by 20 percent from the Rs.917.22 crore in the corresponding quarter of the preceding year, while other income was Rs.58.78 crore, compared with Rs.60.96 crore in Q4FY11.
For the quarter, income from 'Global Voice Solutions' stood at Rs.341.65 crore, compared with Rs.275.48 crore a year ago, an increase of 24 percent, while that from 'Global Data and Managed Services' rose by 18 percent to Rs.758.99 crore from the Rs.641.74 crore of the preceding year.
For the full year, its fiscal year stand-alone net profit stood at Rs.171.34 crore, compared with Rs.162.56 crore in 2011, an increase of five percent. Total income, including other income, totaled Rs.4,270.87 crore, higher by 12 percent than the Rs.3,802.48 crore in the year-ago quarter.
Tata Communications posted a fourth-quarter consolidated net loss of Rs.260.94 crore or Rs.9.16 per share, compared with a net loss of Rs.156.51 crore or Rs.5.49 per share for the quarter ended March 31 last year. Total income, including other operating income, amounted to Rs.4,015.32 crore, up by 28 percent from the Rs.3,146.27 crore in the year-ago quarter.
Results for the preceding year quarter included a total charge of Rs.71.16 crore towards severance cost and fixed assets written off and a gain of Rs.4.04 crore on account of interest on income tax refund.
For the 12-month period, its fiscal year consolidated net loss was Rs.794.65 crore, compared with a net loss of Rs.776.90 crore in 2011. Total income, including other operating income, totaled Rs.14,340.85 crore, compared with Rs.12,185.21 crore last year, reflecting an 18 percent growth.
Results for the year included loss of Rs.737.47 crore, compared with Rs.551.02 crore of Neotel Pty. Ltd., a company incorporated in South Africa.
The company's Board recommended a dividend of 20 percent or Rs.2.00 per equity share of Rs.10 each for the fiscal year 2012.
Managing Director & CEO Vinod Kumar said, "Our main focus this year was profitability and this is reflected in our core business which has registered a robust performance. The South African operation, Neotel, has also ended the year on an EBITDA positive note. We launched several new products in the last quarter which have held us in good stead. In these uncertain times, we are well poised to partner with our clients for their communications and technology requirements as they look to diversify and grow their business across different geographies."
At the BSE, Tata Communications share is currently trading at Rs.204.00, up Re.1.05 or 0.52 percent on a volume of 21,000 shares.
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by RTT Staff Writer
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