Tata Comm profit slides 68%
The recession has hit global capacity and managed services provider Tata Communications, with quarterly net profit sinking 68% on much lower demand.
Tata’s wholesale voice sales fell more than a third to Rs3.0 billion ($64 million), while enterprise sales fell 17%. Net profit was Rs104 million ($2.2 million) on gross sales of Rs7.59 billion, the company said.
Indian mobile operator Idea boosted its net profit by two-thirds to Rs 2.5 billion. Sales were up 26% to Rs28.9 billion, as the company added 4 million subs to in the quarter take its total to 46.8 million.