Tata Communications surged 10.28% to Rs 252 at 9:31 IST on BSE after the company reported consolidated net profit of Rs 80.36 crore in Q2 September 2013 compared with net loss of Rs 274.24 crore in Q2 September 2012.
The result was announced after market hours on Tuesday, 29 October 2013.
Meanwhile, the BSE Sensex was up 85.85 points, or 0.41%, to 21,014.86.
On BSE, 1.65 lakh shares were traded in the counter compared with average volume of 79,085 shares in the past one quarter.
The stock hit a high of Rs 258 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 236 so far during the day. The stock hit a 52-week low of Rs 136.90 on 5 August 2013.
The stock had outperformed the market over the past one month till 29 October 2013, rising 17.03% compared with the Sensex's 6.09% rise. The scrip had also outperformed the market in past one quarter, gaining 44.99% as against Sensex's 6.82% rise.
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The mid-cap company has an equity capital of Rs 285 crore. Face value per share is Rs 10.
Tata Communications' consolidated net sales rose 16% to Rs 4952.61 crore in Q2 September 2013 over Q2 September 2012.
The company said growth in Q2 September 2013 was mainly attributed to the global increase in demand across all segments. Tata Communications' wholesale voice business continues to outpace the global market growth rate. Revenues from enterprises increased by 29% year-on-year (YoY). Operating income and margin were positively impacted by Tata Communications' continued focus on cost-management.
Gross revenues for the core business improved by 17% at Rs 4418.70 crore in Q2 September 2013 over Q2 September 2012.
Global Voice Services (GVS) continued on its growth path with a total of 15.4 billion minutes carried on the network in Q2 September 2013, up from 15.2 billion minutes in Q2 September 2012. GVS net revenues showed a 30% improvement in Q2 September 2013 over Q2 September 2012. Gross revenues for Global Data Services (GDS) also saw an upswing with a revenue growth of 19% at Rs 1989.70 crore in Q2 September 2013 over Q2 September 2012.
The start-up business, comprising primarily of Neotel, witnessed a 10% rise in revenues at Rs 533.90 crore in Q2 September 2013 over Q2 September 2012. The start-up business' EBITDA margins stood at 24.9% in Q2 September 2013 against 10.6% in Q2 September 2012. In local currency (ZAR) terms, Neotel's Q2 FY14 revenues improved by 18% YoY.
Tata Communications is a leading global provider of a new world of communications. 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. The Tata Communications global network includes one of the most advanced and largest submarine cable networks and a Tier-1 IP network with connectivity to more than 200 countries and territories across 400 PoPs, as well as nearly 1 million square feet of data centre and collocation space worldwide. Tata Communications' depth and breadth of reach in emerging markets includes leadership in Indian enterprise data services, leadership in global international voice, and strategic investments in South Africa (Neotel), Sri Lanka (Tata Communications Lanka) and Nepal (United Telecom).
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