Tata Communications Reports Quarterly Net Loss of Rs. 21.38 Crore

Tata Communications Monday posted a consolidated net loss of Rs. 21.38 crore for the first quarter (April-June) of 2014-15, the company said in a Bombay Stock Exchange (BSE) filing Monday.

The company had reported a net profit of Rs. 94.52 crore in the corresponding period last fiscal.

However, total income from operations rose 13.64 percent to Rs. 5,111.72 crore for the reported quarter as compared to Rs. 4,497.98 crore in the same period last year.

"The improvement in global demand, our comprehensive data services portfolio and an emphasis on operational excellence holds us in good stea"," Vinod Kumar, managing director and chief executive officer, Tata Communications said in a statement.

Last month, Tata Communications said it has plans to invest $200 million over a period of three years to double its data centre capacity in India.

"We plan to invest more than $200 million towards doubling capacity in India from 5 lakh square feet to 10 lakh square feet over a period of three years," Tata Communications' Growth Ventures CEO Rangu Salgame said while announcing the launch of second data centre in Delhi.

The new data centre launched at Greater Kailash in Delhi is spread over 1 lakh square feet.

The company now has data centres at 44 locations globally. In India, Tata Communications has data centres in Delhi, Mumbai, Bangalore, Kolkata, Chennai and Pune.

Salgame said data centre market is growing in India at over 20 percent compounded annual growth rate (CAGR) year-on-year and Tata Communications business is growing a bit faster than the market rate.

Written with agency inputs