Tata Communications fell 6.32% to Rs 379 at 10:03 IST on BSE after consolidated net profit fell 79.83% to Rs 21.89 crore on 3.8% rise in net sales to Rs 5099.49 crore in Q3 December 2015 over Q3 December 2014.
The result was announced after market hours yesterday, 2 February 2016.Meanwhile, the BSE Sensex was down 168.67 points, or 0.69%, to 24,370.33.
On BSE, so far 90,000 shares were traded in the counter, compared with an average volume of 47,930 shares in the past one quarter. The stock hit a high of Rs 400 and a low of Rs 363.30 so far during the day. The stock hit a 52-week high of Rs 504.90 on 15 April 2015. The stock hit a 52-week low of Rs 336.30 on 25 August 2015. The stock had underperformed the market over the past one month till 2 February 2016, sliding 7.01% compared with 6.20% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 6.56% as against Sensex's 7.61% fall.
The large-cap company has an equity capital of Rs 285 crore. Face value per share is Rs 10.
The company's consolidated other income slumped 89.7% to Rs 10.74 crore in Q3 December 2015 over Q3 December 2014.
Tata Communications said that its core business (comprising of data and voice segments) reported strong performance in revenues and profitability. Data continued to drive core business performance, with both network and managed services offerings showing enhanced traction. The data services portfolio coupled with improved profitability in the payment services business has been the key growth driver, the company said. The new services portfolio is also beginning to gain momentum, it added.
The company further said that global voice segment continues to be adversely impacted by structural industry-level headwinds namely the growing acceptance of Voice over Internet Protocol (VoIP) delivered by over the top carriers (OTTs) coupled with a steep decline in tariffs.
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Tata Communications along with its subsidiaries is a loading global provider of A New World of Cornmunications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
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