Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Tata Communications has posted a 14% growth in its consolidated revenues in the FY 2014, while company’s EBITDA Grows 48%.
Consolidated revenue from operations improved by 14% to Rs. 196,196 million (USD 3,244 million @avg. Fx of INR/USD 60.48) in FY14 as compared to Rs. 172,130 million (USD 3,165 million @avg. Fx of INR/USD 54.38) in FY2013. This growth in revenues was broad based with strong momentum across all segments.
The operator said that this growth in revenues was broad based with strong momentum across all segments.
Commenting on the FY14 results, Vinod Kumar, MD and CEO, Tata Communications, says, “Tata Communications has delivered a year of strong growth and has strengthened its competitive positioning in the market. Our ongoing focus on execution, talent development and sharpening our value proposition is delivering tangible value. Our recent ascension to the Leaders’ quadrant of the Gartner Magic Quadrant for Global Network Service Providers for the first time is an endorsement of our global competitiveness. Going forward, we will continue to execute our growth strategy and deliver value to our stakeholders.”
According to the company, its net profit stood at Rs 1,014 million (USD 17 Mn) and core business revenues from operations at Rs. 174,509 million (USD 2,885 million) marking a growth of 14% YoY. Growth of global voice revenue from operations is 11% YoY and global data revenue from operations up 17% YoY.
Financial highlights for Q4 FY2014
Consolidated revenue from operations showed a growth of 19% to Rs. 52,153 million (USD 843 million @avg. Fx of INR/USD 61.83) in Q4 FY14 as compared to Rs. 44,005 million (USD 812 million @avg. Fx of INR/USD 54.19) in the corresponding quarter last year. Consolidated EBITDA improved by 60% to Rs. 7,798 million (USD 126 million @avg. Fx of INR/USD 61.83) in Q4 FY14 compared to Rs. 4,865 million (USD 90 million @avg. Fx of INR/USD 54.19) in the corresponding quarter last year.
Revenue from operations for the core business grew 16% at Rs. 45,793 million (USD 741 million) from Rs. 39,345 million (USD 726 million) during the corresponding quarter a year ago.
The start-up business, comprising primarily of Neotel, delivered a contribution of 37% rise in revenues at Rs. 6,360 million (ZAR 1,118 million @ avg. Fx of INR/ZAR 5.69), compared to Rs. 4,660 million (ZAR 768 million @ avg. Fx of INR/ZAR 6.07) in Q4 FY13. The start-up business EBITDA margins stood at 28.2% during the quarter, compared to 7.4% in Q4 FY13.