TATA COMMUNICATIONS
Tata Communications has posted very good performance for Q2FY15. The company posted a consolidated net profit at Rs.93 crore v/s a net loss of Rs.21 crore in Q1. This turnaround can be attributed to some extent to operational performance but it was more on account of a hefty other income component at Rs.163 crore. This was the interest it earned on the tax refund. Otherwise net revenue earned was flat at Rs.5071 crore compared to Rs.5112 crore in Q1. EBITDA for the quarter came in at R.759 crore, up 6% while EBITDA margins rose from 14% to 15%.
The company’s interest outgo for the quarter stands at Rs.187 crore v/s Rs.199 crore in Q1. YoY, it has come down from Rs.201 crore. Net debt of the company as at 30th Sept 2014 stood at $1482 million v/s $1380 million in Q1. Of this, $1577 million is forex loan and $111 million is rupee loan. Average cost of loan stood marginally lower a 4.13% v/s 4.28% in Q1. Cash and equivalent has come down from $404 million to $206 million (QoQ).
In terms of segment wise breakup, the contribution of Voice Solutions to revenue rose from 45.5% to 47.5% (QoQ) while that of Data fell from 42.4% to 41.1%. Its South African operations, Neotel, contributed 11.4% v/s 12.1%. EBITDA margin of Voice rose to 10.6% from 7.4% while that of Data rose from 18.3% to 20.6%.