Tata Communications has reported a 33.6 per cent decline in  its consolidated net loss at Rs 142.86 crore (Rs 215.45 crore) for the quarter ending June 2012 on benefits of the exchange rate, constant focus on cost management and performance improvement in Neotel, a company incorporated in South Africa.

Consolidated Gross Revenues increased to Rs. 41,074 million (USD 761 million @avg. Fx of INR/USD 53.98) in Q1 FY2013 from Rs. 32,571 million (USD 728 million @avg. Fx of INR/USD 44.73) in the same quarter last year. The Core Business reported Revenues of Rs. 36,464 million (USD 676 million) from Rs. 28,763 million (USD 643 million) in Q1 FY2012. Tata Communications turned EBIT positive for Q1 FY 2013 at the consolidated level.

Global Voice Services (GVS) maintained above market average growth and registered a total of 15.8 bn voice minutes, an increase from 13.6 bn minutes in Q1 FY2012. Global Data Services (GDS) improved its trajectory growing at 26% to 15,980 million (USD 296 million) in Q1 FY2013 from Rs. 12,640 million (USD 283 million) in Q1 FY2012.

The Startup Business, which largely maps to Neotel, posted a growth in revenues of 21% at Rs. 4,610 million (ZAR 693 million @ avg. Fx of INR/ZAR 6.65) up from Rs. 3,808 million (ZAR 578 million @ avg. Fx of INR/ZAR 6.59) in the corresponding quarter last year. Neotel improved its operating profitability with EBITDA margins of 13.5% in Q1FY2013 versus 6% in Q4 FY2012.

Commenting on the performance of Q1 FY2013, Vinod Kumar, MD and CEO, Tata Communications, says, “We are growing faster than the industry average with our Core business benefitting from our expanded, wholly owned, round the world sub-sea connectivity. We have introduced service enhancements and newer platforms for conducting business more efficiently and have a sharper focus on strategic verticals such as financial solutions, business video and data centres. I am also pleased to report that Neotel’s improved profitability is a strong reflection on the growth and operational efficiency initiatives we have invested in over the last year.”

 Tata Communications launched a global low latency network to accelerate high frequency trading. This network is designed for companies that require a secure, reliable and fast low latency solution where it will enable financial firms to execute a high frequency trade between locations, such as London and Hong Kong or New York and Singapore, in milliseconds, through a single network and single supplier model. A combination of its strong global footprint, a broad portfolio of Ethernet choices, operational simplicity that helps to drive cost reductions and an unmatched PBB (Provider Backbone Bridging) technology rollout, makes Tata Communications’ low latency offer more compelling.

Tata Communications to become anchor tenant customer on Seaborn Networks' US-Brazil cable; where Seaborn Network’s cable system, Seabras-1, will enable Tata Communications to provide fully integrated network services from Brazil to its networks in the US, Europe, Africa, Asia and India. The cable system is to be ready for service in the fourth quarter of 2014. The cable would ensure that the Company has the fastest route between Brazil’s major commercial centre and the U.S and positions it attractively in what is seen as the most viable subsea projects in one of the fastest growing markets in the world. 

Tata Communications' Video Connect network extended into Nigeria via Main One Cable Company, which is Nigeria’s premier provider of broadband internet services. The Video Connect service will allow broadcast and production companies in Nigeria to distribute their live video content worldwide as well as enhance international broadcasters' reach into this key emerging region. The Video Connect network is designed to carry both live and file-based content; it makes seamless worldwide transmission possible through 300+ connected media hotspots including key cable and Direct to Home (DTH) headends, as well as production and post-production houses around the world. 

 Tata Communications and Turkcell Superonline co-operated to enable access to its Tier 1 global internet backbone from Istanbul. Turkcell Superonline is now in a position to make available to Turkish carriers and other European and Middle Eastern carriers in Istanbul, connectivity to Tata Co