Tata Communications reports Gross Revenues up by 10% YoY in Q1 FY2014

Tata Communications has announced its financial results for the quarter ended June 30, 2013, showing consolidated gross revenues growth by 10% at Rs.44,980 million in Q1 FY2014 compared to Rs.41,074 million in the same quarter last year. The gross revenues for the Core Business improved by 10% at Rs.40,188 million (US$720 million) from Rs.36,464 million (US$676 million) during Q1 FY2013.

Vinod Kumar, MD & CEO, Tata Communications, said, We have surpassed last year’s performance on all financial parameters with strong revenue and EBITDA growth which sees us continue to outpace our peers in the market. Our focus on talent, service innovation and marketing is enabling our business with wider market appeal and allows us to offer greater value to our customers. Despite the continued softness in economic conditions, our business is pushing ahead with good momentum.

Global Voice Services (GVS) has maintained its growth trend in volume of International Long Distance (ILD) minutes. The ILD voice minutes carried in Q1 FY2014 were at 13.9 billion, up from 13.1 billion minutes in Q1 FY2013. GVS net revenues registered a 12% YoY growth in Q1 FY14. Global Data Services (GDS) gross revenues maintained its growth momentum at 12% with Rs.17,958 million (US$322 million) during the reporting quarter, up from Rs.15,980 million (US$296 million) last year in Q1 FY2013.
 
The Start-up Business EBITDA margins were at 21.0% in Q1 FY2014 compared to 12.8% in Q1 FY2013. Neotel’s performance benefited from market-share gains, an evolving business mix in favour of recurring revenues and sustained cost optimization efforts.