Tata Communications revenue dips 6%, net loss at Rs 329 crore

Tata Communications posted revenue of Rs 16,651 crore (–5.5 percent), EBITDA of Rs 2,291.4 crore (–2.9 percent) and net loss of Rs 328.6 crore in fiscal 2017-18.
Tata Communications for IoT
Tata Communications recorded revenue of Rs 4,008.6 crore (–6.6 percent), EBITDA of Rs 555. Crore (+12 percent) and net loss of Rs 121 crore in Q4 fiscal 2017-18.

Vinod Kumar, MD and CEO, Tata Communications, said: “FY18 has been a reset year for Tata Communications, as we transformed our portfolio and operating structure to make us more competitive and responsive to the evolving needs of our customers.

The company said revenues fell primarily because of lower volume and price compression in voice and currency translation impact. Data business revenues grew 4.4 percent, on the back of 3.9 percent growth in Traditional and 35.6 percent increase in Growth Services.

ILL and Ethernet grew by 14 percent each. VPN grew by 10 percent. IZO services grew by over 300 percent and Security services grew 64 percent.

Tata Communications said the revamped go-to-market strategy has produced better result as it added 493 new customers during the year; the number of products sold to each customer has improved from 1.75 in FY17 to 1.93 in FY18.