Tata Communications reports net loss of Rs 854 crore for 2010-11


Tata Communications registered
consolidated revenues of Rs 11,932 crore during fiscal 2010-11, showing 8
percent growth from Rs 11,026 crore.

The company reported a net loss of Rs 854
crores for 2010-11. The consolidated net loss for the year includes a loss of
Rs 551 crores for the company’s effective 49.01% holding in Neotel, South
Africa.

 

The company’s operating profit was up 21
percent at Rs
1,226 crore for 2010-11 as
against Rs 1,012 crore for the previous year.

Over
the past few years, we have focused our investments on building and
strengthening our global assets, services and capabilities which has impacted
profitability. Our focus now is to put the business on a firm path to
profitability, driven by growth in our enterprise business, growth in new
segments like cloud computing, improved performance at Neotel and a sharp focus
on costs,” said Vinod Kumar, MD &
CEO, Tata Communications
.

 

During FY 2010-11, Tata Communications
achieved significant milestones such as its partnership with Google to bring on-the-go
business connectivity to enterprises in India (InstaOffice) as well as the
opening of its $180 million data centre, Tata Communications
Exchange in Singapore.

 

The
company also
announced the international launch of InstaCompute, its cloud infrastructure
and application services offering. Tata Communications signed
a
significant international voice sourcing agreement with Videotron, one of
Canada’s largest communications companies.

Tata
Communications launched several new
Telepresence
public rooms, was selected by PSA Peugeot Citroen to provide Global Managed
Telepresence services and announced various intercarrier partnerships with key
Telcos such as
Orange Business
Services and BT
to provide a Global
Meeting Exchange (GMX) across Telepresence rooms globally.

By
TelecomLead.com Team

[email protected]

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