New Delhi: Tata Communications
on Saturday reported widening of consolidated losses at about Rs 275
crore for the fourth quarter ended March 31, mainly due to provisioning
for statutory dues. It had registered net loss of Rs 199 crore in the year-ago period
The quarter's loss was due to a provision of Rs 342 crore towards additional license fees liability, the company said.
The
income from operations for the just ended quarter came in at nearly Rs
4,398 crore, up 3.6 per cent year-on-year helped by strong performance
in the data business.
For the full year ended March 2020, the losses were at Rs 84.83 crore compared to Rs 80.43 crore in FY19.
The income for operations for FY20 was at Rs 17,068 crore, up 3.2 per cent over the previous fiscal.
"We are living in extraordinary times with the COVID-19 pandemic continuing to disrupt businesses at large.
"At
Tata Communications, we are enabling smooth and continued operations of
services for our customers, delivering service upgrades and changes in
record speed, as they implement work from home measures and shift
workloads seamlessly across borders as part of their business continuity
plans," A S Lakshminarayanan, CEO of Tata Communications, said in a
statement.
On the COVID-19 business response, the company noted that there was 30 per cent growth in internet traffic on its network in March compared to January 2020.
"Capacity
expansion in a short span of time has been possible due to extensive
upgrade and modernisation of our network done in the last three
years.... Recorded 1 billion minutes of enterprise voice traffic in
March alone," the statement said.
The Board has recommended a
final dividend of 40 per cent (Rs 4.00 per share of the face value of Rs
10 each) for the financial year ended March 31, 2020.
During the quarter ended September 2019, the company received demand from the Department of Telecom (DoT)
aggregating about Rs 6,633 crore towards licence fee on its Adjusted
Gross Revenue (AGR) for the financial years 2006-07 till 2017-18.