Tata Communications has reported a 67 per cent increase in its consolidated net loss at Rs 261 crore for the quarter ending March 31, 2012. The loss widened largely on account of higher network costs and finance costs faced by the company.

Network costs for the company increased to Rs 2,161 crore for the quarter ending March 31, 2012 against Rs 1,792 crore in the year-ago period. The total expenditure increased by 28 per cent to Rs 3,969 crore for the fourth quarter.

Finance costs increased to Rs 185 crore from Rs 107 crore in Q4. (Finance costs increased to Rs 834 crore for the year ending March 31, 2012 from Rs 569 crore in the same period last year.)

Other income fell to Rs 54 crore from Rs 77 crore in Q4. (For the year ending March 31, 2012, other income nearly halved to 144 crore compared with 253 crore in the year ago period.)

However, revenues were up by 29 per cent to Rs 3,961 crore for the March 2012 quarter. Segment wise revenues were also up in the global voice solutions, global data and managed services businesses.

For the year ending March 31, 2012, Tata Communications reported a net loss of Rs 794 crore against Rs 776 crore in the same period last year.

“The consolidated results for the quarter and year ended Match 31, 2012 include those of Neotel, a company incorporated in South Africa. The consolidated net loss for the year includes loss of Rs 737 crore (previous year loss of Rs 551 crore) of Neotel Pty. Ltd, South Africa,” said a statement from the company.

The stock closed at Rs 201.30, down 0.81 per cent on the Bombay Stock Exchange.

priya.s@thehindu.co.in

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