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Business News/ Companies / Tata Communications Q4 net loss widens to Rs205 crore
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Tata Communications Q4 net loss widens to Rs205 crore

Tata Communications had registered a net loss of Rs178.3 crore in the year-ago period; income from operations up 6.8% at Rs5,145.41 crore

During the quarter, Singapore Technologies Telemedia agreed to acquire a 74% stake in Tata Communications’ data centre business in India and Singapore for about Rs3,150 crore. Photo: BloombergPremium
During the quarter, Singapore Technologies Telemedia agreed to acquire a 74% stake in Tata Communications’ data centre business in India and Singapore for about Rs3,150 crore. Photo: Bloomberg

New Delhi: Tata Communications Ltd on Saturday reported a widening of its consolidated net loss to 205 crore for the quarter ended March, mainly on account of an impairment of equity in its sister concern Tata Teleservices.

The company had registered a net loss of 178.3 crore in the same period a year ago. “During the quarter and year ended March 2016, the company provided 25,152 lakh as diminution in value, other than temporary, in its long-term investments in Tata Teleservices," Tata Communications said in its financial report.

However, income from operations increased 6.8% to 5,145.41 crore in the reported quarter, as against 4,815.52 crore in the corresponding quarter of 2014-15.

During the quarter, Singapore Technologies Telemedia agreed to acquire a 74% stake in Tata Communications’ data centre business in India and Singapore for about 3,150 crore. The deal includes Tata Communications’ 14 data centres across India and three facilities in Singapore.

For full fiscal year ended March 2016, the company reported a consolidated loss of 211.8 crore, while it posted a net profit of 1.29 crore a year ago. Income from operations for the year increased 3.47% to 20,605.5 crore from 19,913.3 crore in 2014-15. The company announced a dividend of 4.3 per share for 2015-16.

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Published: 28 May 2016, 04:26 PM IST
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