Tata Comm posts €104m loss on Neotel

Global bandwidth carrier Tata Communications has recorded a full-year loss, mostly due to its stake in South African firm Neotel.
 
However, it turned around its operating result, posting ebitda of 10.12 billion rupees (€176 million) in the year to March, compared with a 13.66 billion rupees loss the previous year.
 
The firm reported a net loss of 5.98 billion rupees for the year, held down by a 4.64 billion rupee loss from its 49% holding in South African operator Neotel, and a 4.1 billion rupee depreciation hit.
 
Sales grew 10.7% to 110.26 billion rupees. India-only ebitda increased 10.9% to 1.97 billion rupees, which was 34% ahead of Credit Suisse’s estimates.
 
Management said the growth was driven by stable pricing and rising volumes in the data segment.
 
During the year, Tata Communications signed a five-year agreement to become BT’s main IDD supplier outside the UK.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.