Data services drive Tata’s Q1 results
05 August 2014 |
Tata Communications has posted its Q1 results for FY15, recording a 14% year-on-year increase in revenues.
Consolidated revenues from operations rose from $806 million in Q1 FY14 to $855 million, while consolidated EBITDA grew year-on-year by 9% to $119 million.
The results were primarily driven by the carrier’s data services, with revenues from operations up by 17% year-on-year. The company attributed this to an increase in demand from global enterprise customers for network and data centre services. Revenue from its voice business was also up 8% year-on-year.
“Tata Communications continues to maintain its growth momentum and build on its strategic evolution into advanced managed services. The improvement in global demand, our comprehensive data services portfolio and an emphasis on operational excellence holds us in good stead.” said Vinod Kumar, MD and CEO, Tata Communications.
“In the coming quarters, we will continue to calibrate our performance against customer expectations, to deliver sustainable value to all stakeholders,” he added.
In the last quarter, which ended June 30, Tata reached an agreement with Vodacom to acquire its South African subsidiary Neotel for approximately $676 million. The deal is subject to regulatory and competition authority approvals.
It also launched the latest version of its unified communications platform jamvee, and its Formula One operations were profiled in Capacity’s latest cover story.