Mumbai: Telecom solutions provider Tata Communications Ltd’s net loss widened to Rs.201.01 crore in the third quarter ended December 2012, compared with a Rs.153.06 crore loss in the year-ago period. The company posted a net loss of Rs.274.24 crore September quarter of the current fiscal year.
Revenue rose 23% year-on-year (y-o-y) and 3.8% sequentially to Rs.4,434.11 crore in the December quarter.
Tata Communications stock closed at Rs.222.50, down 1.11% on the BSE on Friday, while the benchmark Sensex closed at 19,484.77 points, down 0.49%.
Commenting on the performance, Vinod Kumar, managing director and group chief executive officer, Tata Communications, said in a statement, “Our performance this quarter is a reflection of our focused drive to progressively improve operating results, while at the same time, maintain top-line growth. We have firmly established all the foundational pieces required to support a solid, global communications and media business and are now focused on sweating our global assets as we continue to innovate and keep what we have developed at the forefront of the market.”
This week Tata Communications also announced the launch of LTE (long term evolution) roaming services to streamline roaming fourth generation (4G) networks for mobile network operators.