Tata Communications rose 2.42% to Rs 412.25 at 10:42 IST on BSE after consolidated net profit rose 14.97% to Rs 92.39 crore on 4.87% growth in total income to Rs 5235.06 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced on Saturday, 1 November 2014.
Meanwhile, the S&P BSE Sensex was down 3.25 points or 0.01% at 27,862.58.
On BSE, so far 45,000 shares were traded in the counter as against average daily volume of 51,583 shares in the past one quarter.
The stock was volatile. The stock rose as much as 3.57% at the day's high of Rs 416.90 so far during the day, which is also its 52-week high for the counter. The stock lost as much as 1.36% at the day's low of Rs 397 so far during the day. The stock had hit a 52-week low of Rs 251.95 on 31 October 2013.
The stock had outperformed the market over the past one month till 31 October 2014, jumping 12.46% compared with Sensex's 4.64% rise. The scrip also outperformed the market in past one quarter, surging 8.17% as against Sensex's 7.61% rise.
More From This Section
The large-cap company has equity capital of Rs 285 crore. Face value per share is Rs 10.
Tata Communications' revenue from operations for the core business grew 1.7% to Rs 4495 crore in Q2 September 2014 over Q2 September 2013.
The start-up business continued its upward trajectory and posted a robust revenue growth of 8% to Rs 576.60 crore in Q2 September 2014 over Q2 September 2013. The start-up business margin improved to 31.3% in Q2 September 2014, compared to 30.8% in Q2 September 2013.
Vinod Kumar, MD and CEO, Tata Communications says, "Enterprises across geographies are beginning to harness the digital transformation to power their growth trajectories. They are expanding and restructuring their portfolios and service offerings while looking to scale globally. Capitalising on this positive trend in the ICT space. We've developed some compelling cloud enablement offerings, all of which, positions us well for future growth. Our recent IZO launch is one we have high hopes for as we take the necessary steps towards making the Internet Fit For Business by bringing a new level of predictability and reliability to the public internet that does not exist today. We will continue our focus on driving innovation across our service portfolio".
Further commenting on the Q2 results, Vinod Kumar says, "The composition of revenues, and by extension, the quality of our EBITDA is improving as the share of the more sustainable and lucrative, data and managed services segment grows. We continue to be focused on driving robust revenues through long-term engagements with global enterprises and sustaining profitability with a vigilant cost regime".
Tata Communications along with its subsidiaries is a leading global provider of A New World of Communications.
Powered by Capital Market - Live News