Tata Communications Q1 consolidated net profit grows 15% to Rs 296 crore

Tata Communications on Wednesday posted about 15 per cent jump in consolidated profit at Rs 296.11 crore in the quarter ended June 2021.

The company had a profit of Rs 257.8 crore in the same quarter a year ago.

“In a challenging quarter impacted by the second wave of COVID-19, we have delivered a robust performance. The global markets are slowly opening up and we are witnessing greenshoots of demand recovery,” Tata Communications Managing Director and CEO A S Lakshminarayanan said in a statement.

The consolidated revenue of Tata Communications declined by about 7 per cent to Rs 4,103 crore during the reported quarter as compared to Rs 4,403 crore in the corresponding quarter of 2020-21.

Data business revenue declined by 2.2 per cent on a year-on-year (y-o-y) basis to Rs 3,104 crore.