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Tata Communications Q3 net profit zooms to Rs 173.3 cr
Tata Communications Wednesday posted a net profit of Rs 173.3 crore for the December 2018 quarter, against Rs 10.12 crore in the year-ago period, on robust data business and 'growth services'.
The consolidated revenue rose three per cent to Rs 4,269.5 crore as against the year-ago period, with data services contributing 78 per cent of the overall revenue. The revenue was 4.9 per cent higher as compared with the September 2018 quarter, the company said in a statement.
"Our data business continues to be strong and our growth services have been instrumental in our overall revenue growth.
"Despite operator consolidation headwinds, our traditional services business is steady. As we grow scale, we are confident of an upward momentum in our revenue growth and profit trajectory in coming quarters," Pratibha Advani, CFO, Tata Communications said.
The company's 'growth services' comprise managed hosting, managed security services, broadcast, video streaming, and mobile new services, among others.
Vinod Kumar, managing director and group chief executive officer of Tata Communications, said the strategy adopted by the company is steering it on the right course towards its financial goals.
Data business saw strong all-round growth, with revenue growing 14.1 per cent y-o-y. The company said revenue from 'growth services' witnessed "solid momentum", increasing 13.2 per cent over the year-ago period.
"Traditional services stabilised with revenue growth of 4.2 per cent quarter-on-quarter. Operator consolidation in India has affected this portfolio. While the revenue impact is largely over, we are still affected by higher access and co-location cost," the statement said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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