Active Stocks
Tue Mar 19 2024 09:41:05
  1. Tata Consultancy Services share price
  2. 4,046.00 -2.38%
  1. Tata Steel share price
  2. 151.30 1.14%
  1. HDFC Bank share price
  2. 1,444.20 -0.14%
  1. NTPC share price
  2. 313.00 -1.31%
  1. Power Grid Corporation Of India share price
  2. 263.50 -0.57%
Business News/ Companies / Tata Communications Q4 net loss widens to Rs205 crore
BackBack

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 28 May 2016, 04:26 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie