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Tata Communication FY11 cons revenue up 8%
May 30, 2011 | William Zimmerman
The company's operating profit (EBITDA) was up 21% at Rs. 1,226 crores for 2010-11 as against Rs. 1,012 crores for the previous year
Tata Communications, a leading global provider of a new world of communications, today reported its consolidated financial results under Indian GAAP for the year ended March 31, 2011. Consolidated revenues increased by 8% to Rs. 119.32bn (about US$2.6 billion) from Rs. 110.26bn (about USD 2.3 bn) in the previous year.
The company's operating profit (EBITDA) was up 21% at Rs. 12.26bnfor 2010-11 as against Rs. 10.12bn for the previous year. The company reported a net loss of Rs. 854 crores for 2010-11. The consolidated net loss for the year includes a loss of Rs. 5.51bn for the company's effective 49.01% holding in Neotel, South Africa.
The Board of Directors has recommended that 20% dividend be payable this year.
"Over the past few years, we have focused our investments on building and strengthening our global assets, services and capabilities which has impacted profitability. Our focus now is to put the business on a firm path to profitability, driven by growth in our enterprise business, growth in new segments like cloud computing, improved performance at Neotel and a sharp focus on costs," said Vinod Kumar, MD & CEO, Tata Communications.
During 2010-11, Tata Communications achieved significant milestones such as its partnership with Google to bring on-the-go business connectivity to enterprises in India (InstaOffice) as well as the opening of its state-of-the-art US$180 million data centre, Tata Communications Exchange in Singapore. The company also announced the international launch of InstaCompute, its cloud infrastructure and application services offering. Tata Communications signed a significant international voice sourcing agreement with Videotron, one of Canada's largest communications companies.
Tata Communications launched several new Telepresence public rooms, was selected by PSA Peugeot Citroen to provide Global Managed Telepresence services and announced various intercarrier partnerships with key Telcos such as Orange Business Services and BT to provide a Global Meeting Exchange (GMX) across Telepresence rooms globally.
Tata Communications received several industry accolades during 2010-11
- Gartner's Magic Quadrant for Global Network Service Providers - Tata Communications is positioned in the Visionaries Quadrant in this Magic Quadrant
- Gartner's MarketScope for Managed Security Services in Asia / Pacific 2 - Tata Communications is rated Positive in this MarketScope
- Gartner's Magic Quadrant for Asia/Pacific Network Service Providers 3 - Tata Communications is positioned in the Visionaries Quadrant in this Magic Quadrant
- Current Analysis Global WAN update - Tata Communications is rated as 'Threatening' in the Global Data WAN segment (2010)
- Best Global Wholesale Offering Award at Capacity Awards 2010
- Best APAC Wholesale Ethernet Service and Best Service Provider of the Year at MEF Carrier Ethernet Service Provider Awards 2010
- Telepresence Managed Service Provider of the Year 2010 at European CEO Awards
- Most Innovative Business Video Project (for Tata Communications' Global Telepresence Exchange and Public Rooms), Cisco Networkers 2010 Innovation Awards
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