Tulip Telecom Q3 revenue dips 65%, net loss at Rs 157 crore

Tulip Telecom Q3 revenue decreased 65 percent, while net loss reached Rs 157 crore.

Enterprise data services provider Tulip Telecom on Tuesday reported a net loss of Rs 157.05 crore for the quarter ended June 30, 2013 against a net profit of Rs 116.36 crore in the same period last fiscal.

Total revenue of the ailing company decreased 64.54 percent to Rs 254.06 crore from Rs 716.50 crore.


The company had executed a Master Restructuring Agreement (MRA) with its Corporate Debt Restructuring (CDR) lenders in July this year. ( Tulip Telecom lenders approve Rs 1800 crore revival package )

The CDR package covers 12 year repayment plan, reduction in interest rates by around 2.5 per cent, 1.5 year moratorium on interest and 2.5 year moratorium on principal.

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