Tata Communications posts solid 3Q results; net profit, EBITDA, revenue all increase
Indian fixed line and broadband provider Tata Communications has released its financial results for the three months ended 31 December 2008, revealing a 17% increase in revenue against the same period last year. Tata’s revenue for its third fiscal quarter stood at INR9.9 billion (USD202 million), while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 43% year-on-year to INR2.3 billion. Net profit for the three-month period meanwhile was INR810 million, soaring 203% compared with the 3Q 2007. The large increase has been attributed to a one-off charge incurred by the operator in the same period last year following a revision of the its pricing arrangements. Tata has claimed however that its key operating sectors, business voice and data, have both continued to demonstrate strong growth in both revenue and operational parameters. Wholesale voice revenues for the nine months to end-December 2008 increased 73% to INR2.29 billion, while enterprise and carrier data revenue was up 23%.