Tata Communications Q2 consolidated profit up 7-fold to Rs 385 crore

Tata Communications on Friday posted an around seven-fold jump in consolidated net profit at Rs 384.81 crore for the September quarter.

The company had registered a profit of Rs 54.31 crore in the corresponding period of the preceding fiscal.

Consolidated revenue grew 4.5 per cent to Rs 4,477.18 crore during the reported quarter from Rs 4,282.3 crore in the year-ago period, it said in a BSE filing.

Besides, the company concluded the sale of a land parcel along with building for a total consideration of Rs 67.41 crore.

The company during the quarter received a demand note from the Department of Telecommunications (DoT) to pay Rs 6,633.43 crore towards licence fees on its adjusted gross revenue (AGR) for the financial years 2006-07 till 2017-18, it added.