Tata Comm hits new 52-week high
By
Research Desk
about 11 years ago
Tata Communications is ringing loud and clear today. The stock hit a new 52-week high at Rs.258 and there has been an almost 8 times spurt in volumes. The stock remains in the green, up over 8%.
The stock is up on the back of its very good performance for Q2FY14. YoY, the company has turned around with a consolidated net profit at Rs.80 crore v/s a net loss of Rs.274 crore in Q2Fy13. Its net sales rose 16% at Rs.4952 crore. The company has attributed this turn around to global increase in demand across all segments.
Q2FY14 EBITDA was up 90% (YoY) and up 28% (QoQ). The global voice revenue rose 30% (YoY) and global data gross revenue rose 19%.