Tata Communications, a leading global provider of a new world of communications, disclosed a phenomenon drop in its standalone net profit for the quarter ended September 2008, failing to meet the analysts expectations. During the quarter, the profit of the company declined 46.86% to Rs 326.40 million from Rs 614.20 million in the same quarter, previous year. The analysts at Bloomberg had expected the earnings to be at Rs 1,017 million for quarter ended September 2008.
Net sales for the quarter rose marginally 3.81% to Rs 9,838.90 million over prior year period. Analysts had expected the same to be at Rs 9,186 million.
Meanwhile, the total income for the quarter rose marginally 4.06% to Rs 10,280.80 million, when compared with the prior year period.
The company reported earnings of Rs 1.15 a share during the quarter, registering 46.51% decline over prior year period. Analysts had expected earnings to be at Rs 3.57 a share for quarter ended September 2008.
| Quarterly Results - Standalone (Rs in mn) |
| As at |
Sep - 08 |
Sep - 07 |
%Change |
| Net Sales |
9,838.90 |
9,477.40 |
3.81 |
| Net Profit |
326.40 |
614.20 |
(46.86) |
| Basic EPS |
1.15 |
2.15 |
(46.51) |
Shares of the company declined Rs 67.8, or 15.69%, to settle at Rs 364.00. The total volume of shares traded was 43,275 at the BSE (Friday).
Tata Communications Limited (Q,N,C,F)*
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