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Tata Communications Q2 net dips 63 pc at Rs 32.64 cr

Posted by Yogesh on Saturday, 25 October, 2008

MUMBAI: Ratan Tata-led Tata Communications, which was formerly known as Videsh Sanchar Nigam Limited, on Saturday said its net profit for the second quarter ended September 30 fell by 62.77 per cent at Rs 32.64 crore over the corresponding period a year ago.

The company had a net profit of Rs 87.69 crore for the September quarter last fiscal, Tata Communications Ltd said in a filing to the Bombay Stock Exchange.

Total income rose to Rs 1028.08 crore for the quarter under review from Rs 836.24 crore for the September quarter previous year.

While, for the six months ended September 30, 2008, Tata Group firm posted a net profit of Rs 130.97 crore, a 39.73 per cent decline compared with Rs 217.34 crore for the same period last year.

Shares of the company fell by 15.69 per cent on Friday and closed at Rs 364.35 on the BSE. Source The Times of India

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