Mumbai: Tata Communications on Wednesday reported a three-fold growth in net profit at Rs80.95 crore for the third quarter (Q3) ended 31 December 31 2008.
The company had a net profit of Rs26.71 crore in the quarter of FY 08, Tata Communications said in a filing to the Bombay Stock Exchange.
The revenue from telecommunication services rose 17% to Rs990.24 crore for the quarter under review, from Rs846.71 crore in the same period last fiscal.
“The company’s performance has continued to be strong despite a challenging business environment. We believe that the current economic situation provides us an opportunity to partner with our customer to help manage their costs and enhance their collaborations,” Tata Communications MD and CEO N. Srinath said.
For the nine-month period ended December 2008, Tata Communications reported a 13.71% dip in net profit at Rs211.92 crore. The firm had a net profit of Rs245.60 crore in the same period in FY 08.
The revenues rose 16.62% to Rs2,837.35 crore in the nine month period, from Rs2,433.06 crore in the same period last fiscal.
Shares of Tata Communications closed at Rs459.95, up 3.86% on the BSE.