New Delhi: On Tuesday Tata Communications posted a 22.27 per cent drop in its net profit to Rs 32.94 crore in the April-June quarter. The corporation reported a net profit of Rs 42.38 crore in the similar period a year before.
Tata Communications total income down by 4.34 per cent to Rs 4,552.3 crore throughout the June quarter from Rs 4,354.39 crore in the similar period a year before. Tata Communications has also further stated that on yearly basis core revenues down, initially due to de-expansion in the voice business, in-line with the industry trends.
The corporation further stated that its data services revenue enhanced by 4.6 per cent year-on-year basis. Tata Communications MD and CEO Vinod Kumar have also conveyed that we are also proactively investing into futuristic workflows that will enhance our productivity and improve the customer experience.
These investments will completely impact the medium to long-term margins. The corporation further stated its free cash flow following capex, interest and tax augmented by 45 per cent to Rs 107 crore. Shares of Tata Communications concluded at Rs 647.6 a unit, drops by 1.29 per cent contrast to past close, at BSE.