Backed by strong rise in revenues and growth in voice business
, Tata Communications on Friday said it has posted a net profit of Rs 94.52 crore for the first quarter ended June 30, 2013.
The company had registered net loss of Rs 142.86 crore in the April-June quarter of the last fiscal, 2012-13.
"We have seen strong revenue growth despite sluggish market conditions. Our voice and data business also did well.
In addition to that, we have been very prudent in our spending," Tata Communications MD and CEO Vinod Kumar said in a concall.
Its total Q1 income rose 9.5 per cent to Rs 4,497.98 crore, compared to Rs 4,107.39 crore in the year-ago period.
Global Voice Solutions (GVS) accounted for 50 per cent of the company's revenues, while Global Data Services (GDS) and Neotel operations accounted for 39 per cent and 11 per cent, respectively.
"Global data services gross revenue have maintained growth momentum at 12 per cent with Rs 17,958 million, up from Rs 15,980 million last year in Q1 FY 2013," he said.
Tata Communications' international long distance
(ILD) voice minutes carried in Q1 of FY 2014 stood at 13.9 billion, up from 13.1 billion minutes in Q1 last year.
Asked about the new markets being targetted, Kumar said the company is looking at expansing its presence in the Southeast Asian countries and parts of Africa.
"We are looking at more partnerships and growing the Southeast Asia markets and parts of Africa... The capex for this year is USD 300 million," Kumar added.
Tata Communications' gross revenues from the core business grew 10.2 per cent to Rs 4,018.8 crore, while that from start-up (Neotel) business was at Rs 479.1 crore (up 3.9 per cent).
Tata Communications has a net debt of USD 1,519 million (about Rs 8,973 crore) for its Core business, while that for Neotel stood at South African rand, ZAR 4,918 million (about Rs 2,980 crore), at the end of June 30, 2013.
The company scrip closed at Rs 158.80, down 4.31 per cent on the BSE.