NEW DELHI: Tata Communications today posted a net profit of Rs 10.12 crore for the December quarter, a fraction of what it earned in the year-ago period as some of its operations were sold and discontinued.
Profit from continuing operations stood at Rs 10.34 crore for the three months period ended December 31, 2017 compared to Rs 1.26 crore in the same period previous fiscal, as per a BSE filing by the company.
Total income from continuing operations came in at Rs 4,188.65 crore during the December quarter, whcih is 5.8 per cent lower than Rs 4,450.92 crore in the year-ago period.
"The Q3 recorded a consolidated PAT (profit after tax) of Rs 10 crore on the back of improved operating performance which saw substantially increased margins and higher PBT (profit before tax)," Tata Communications said in a statement here.
Data business revenues grew 6.8 per cent year-on-year, bolstered by a 5.7 per cent growth in traditional services and a robust 38.5 per cent improvement in services like managed hosting, managed security services, broadcast, among others.
During the previous year, the group completed the sale of 74 per cent stake in India and Singapore data centres business and the same has been "disclosed as discontinued operations", the BSE filing said.
Similarly, it said during the previous year, the group completed the sale of its entire shareholding in Neotel, and the financial performance of Neotel has been "disclosed as discontinued operations".