EX-99.1 2 d574138dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

HQ/CS/CL.24B/15187

26 July 2013

Sir,

Sub : Un-audited Financial Results for the period ended 30 June 2013.

Pursuant to Clause 41 of the Equity Listing Agreement with Indian Stock Exchanges the following documents are submitted:

 

  a) Un-audited Financial Results (Provisional, according to Indian GAAP) for the period ended 30 June 2013, which has been approved by the Board of Directors in their meeting, held on 26 July 2013. (Attachment “A”)

 

  b) Limited Review Report of the auditors on the unaudited financial results for the quarter ended 30 June 2013 (Attachment “B”).

 

  c) The press release in this regards is also attached (Attachment “C”).

Thanking you,

Yours faithfully,

For Tata Communications Limited

Satish Ranade

Company Secretary & CLO

To:

 

1) Security Code 500483, The Stock Exchange, Mumbai. Fax No. (22) 2272 2037,39,41

 

2) Security Code TATACOMM, The Asst. Manager (Listing), National Stock Exchange of India Limited. Fax Nos.: (22) 2659 8237,238, 347,348

 

3) National Securities Depository Ltd. Fax Nos. : 2497 2993.

 

4) The Bank of New York. Fax No. 2204 4942.

 

5) Sharepro Services (India) Pvt. Ltd. Fax No. 2837 5646

 

6) Marc H. Iyeki, Director, New York Stock Exchange, Fax No: (212) 656-5071,72

 

7) Central Depository Services (India) Limited. Fax : 2267 3199.

 

LOGO

Tata Communications Limited

Plot C 21 & C 36 ‘G’ Block BandraKurlaComplex, Mumbai 400098 India

Regd. Office : VSB Mahatma Gandhi Road Fort Mumbai – 400 001 India

Tel 91 22 6657 8765 Fax 91 22 6639 5162 website www.tatacommunications.com


LOGO

 

TATA COMMUNICATIONS LIMITED

REGD. OFFICE: VSB, M.G. ROAD, FORT, MUMBAI-400001.

( LOGO in Lakhs)

 

A. STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2013

Part I

 

         Standalone  
    

Particulars

  For the quarter ended     For the year ended  
         June 30 2013     March 31 2013     June 30 2012     March 31 2013  
         (unaudited)     (audited)
(Refer note 2)
    (unaudited)     (audited)  
1   

Income from Operations

    114065        115023        108222        441612   
    

 

 

   

 

 

   

 

 

   

 

 

 
2   

Expenses

       
   a. Network and transmission     49921        46196        52360        196320   
   b. Employee benefit     15630        15673        16865        63946   
   c. Depreciation and amortization     19059        19790        18071        76240   
   d. Other     21211        20407        19980        81325   
    

 

 

   

 

 

   

 

 

   

 

 

 
  

e. Total Expenditure (2a to 2d)

    105821        102066        107276        417831   
    

 

 

   

 

 

   

 

 

   

 

 

 
3   

Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)

    8244        12957        946        23781   
4    Other Income     6446        6839        18705        38022   
    

 

 

   

 

 

   

 

 

   

 

 

 
5   

Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)

    14690        19796        19651        61803   
    

 

 

   

 

 

   

 

 

   

 

 

 
6    Finance Cost     1586        2158        3292        11969   
    

 

 

   

 

 

   

 

 

   

 

 

 
7   

Profit / (Loss) from Ordinary activities after Finance costs but before Exceptional Items (5 - 6)

    13104        17638        16359        49834   
8    Exceptional Items loss/(gain)     (21622     (18336     —          (15835
    

 

 

   

 

 

   

 

 

   

 

 

 
9   

Profit / (Loss) from Ordinary Activities before Tax (7 - 8)

    34726        35974        16359        65669   
    

 

 

   

 

 

   

 

 

   

 

 

 
10    Tax Expense     11555        9019        4947        18145   
    

 

 

   

 

 

   

 

 

   

 

 

 
11   

Net Profit / (Loss) from Ordinary Activities after Tax (9 - 10)

    23171        26955        11412        47524   
    

 

 

   

 

 

   

 

 

   

 

 

 
12    Extraordinary Items (net of Tax Expense)     —          —          —          —     
    

 

 

   

 

 

   

 

 

   

 

 

 
13   

Net Profit/(Loss) for the period (11 - 12)

    23171        26955        11412        47524   
    

 

 

   

 

 

   

 

 

   

 

 

 


LOGO

 

( LOGO in Lakhs)

 

A. STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2013

Part I

 

            Standalone  
    

Particulars

     For the quarter ended      For the year ended  
            June 30 2013      March 31 2013      June 30 2012      March 31 2013  
            (unaudited)      (audited)
(Refer note 2)
     (unaudited)      (audited)  
14   

Paid up Equity Share Capital (Face value of LOGO 10 per share)

       28500         28500         28500         28500   
       

 

 

    

 

 

    

 

 

    

 

 

 
15   

Paid up Debt Capital

                77470   
16   

Reserves excluding Revaluation Reserve

                702495   
17   

Debenture Redemption Reserve

                35013   
       

 

 

    

 

 

    

 

 

    

 

 

 
18   

Earnings Per Share (EPS)

       8.13         9.46         4.00         16.68   
  

Basic and diluted earnings per share before and after Extraordinary Items ( LOGO )

             
       

 

 

    

 

 

    

 

 

    

 

 

 


LOGO

 

 

A. STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2013

Part II

 

     For the quarter ended     For the year ended  

A) Particulars of Shareholding

   June 30 2013     March 31 2013     June 30 2012     March 13 2013  

1. Public shareholding

        

a. Number of shares

     58198109        53803177        51388457        53803177   

b. Percentage of shareholding

     21.28     18.88     18.03     18.88

2. Promoters and Promoter Group Shareholding

        

a. Pledged / Encumbered

        

- Number of Shares

     10000000        10000000        10000000        10000000   

- Percentage of Shares (as a % of the total shareholding of promoters and promoter group)

     4.64     4.61     4.61     4.61

- Percentage of Shares (as a % of the total share capital of the Company)

     3.51     3.51     3.51     3.51

b. Non-encumbered

        

- Number of Shares

     205333215        207028873        207028873        207028873   

- Percentage of Shares (as a % of the total shareholding of promoters and promoter group)

     95.36     95.39     95.39     95.39

- Percentage of Shares (as a % of the total share capital of the Company)

     72.05     72.64     72.64     72.64

3. Shares held by custodian and against which Depository Receipts have been issued-

        

(I) Promoters and promoters group

     —          —          —          —     

(II) Public

     11468676        14167950        16582670        14167950   

 

Particulars

   Quarter ended on
30.06.2013

B) Investor complaints

  

Pending at the beginning of the quarter

   Nil

Received during the quarter

   2

Resolved during the quarter

   2

Remaining unresolved at the end of the quarter

   Nil


LOGO

 

( LOGO in Lakhs)

 

B. STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2013

Part I

 

          Consolidated  
  

Particulars

   For the quarter ended     For the year ended  
        June 30 2013     March 31 2013     June 30 2012     March 31 2013  
          (unaudited)     (audited)
(Refer note  2)
    (unaudited)     (audited)  

1

  

Income from Operations

     449798        440046        410739        1721295   
     

 

 

   

 

 

   

 

 

   

 

 

 

2

  

Expenses

        
  

a. Network Costs

     246788        248925        226813        965633   
  

b. Employee benefits

     60221        60486        60039        241146   
  

c. Depreciation and Amortization

     50372        42728        52901        202705   
  

d. Other

     77634        81981        70611        308545   
     

 

 

   

 

 

   

 

 

   

 

 

 
  

e. Total Expenditure (2a to 2d)

     435015        434120        410364        1718029   
     

 

 

   

 

 

   

 

 

   

 

 

 

3

  

Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)

     14783        5926        375        3266   

4

  

Other Income / (Expense), Net

     2636        4137        11325        22659   
     

 

 

   

 

 

   

 

 

   

 

 

 

5

  

Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)

     17419        10063        11700        25925   
     

 

 

   

 

 

   

 

 

   

 

 

 

6

  

Finance Costs

     16629        18781        20628        79414   
     

 

 

   

 

 

   

 

 

   

 

 

 

7

  

Profit / (Loss) from Ordinary Activities after Finance costs but before Exceptional Items (5 - 6)

     790        (8718     (8928     (53489

8

  

Exceptional Items loss/(gain)

     (21622     (18332     —          (10418
     

 

 

   

 

 

   

 

 

   

 

 

 

9

  

Profit / (Loss) from Ordinary Activities before Tax (7 - 8)

     22412        9614        (8928     (43071
     

 

 

   

 

 

   

 

 

   

 

 

 

10

  

Tax Expense

     12984        10808        5280        22020   
     

 

 

   

 

 

   

 

 

   

 

 

 

11

  

Net Profit / (Loss) from Ordinary Activities after Tax (9 - 10)

     9428        (1194     (14208     (65091
     

 

 

   

 

 

   

 

 

   

 

 

 

12

  

Extraordinary Items (net of Tax Expense)

     —          —          —          —     
     

 

 

   

 

 

   

 

 

   

 

 

 

13

  

Net Profit / (Loss) for the period (11 - 12)

     9428        (1194     (14208     (65091
     

 

 

   

 

 

   

 

 

   

 

 

 

14

  

Share in Profit / (Loss) of Associates

     75        37        12        25   
     

 

 

   

 

 

   

 

 

   

 

 

 

15

  

Minority Interest

     (51     637        (90     2735   
     

 

 

   

 

 

   

 

 

   

 

 

 

16

  

Net Profit / (Loss) after taxes, minority interest and share of profit/(loss) of associates (13+14+15)

     9452        (520     (14286     (62331
     

 

 

   

 

 

   

 

 

   

 

 

 


LOGO

 

( LOGO in Lakhs)

 

B. STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2013

Part I

 

            Consolidated  
  

Particulars

     For the quarter ended     For the year ended  
          June 30 2013      March 31 2013     June 30 2012     March 31 2013  
            (unaudited)      (audited)
(Refer note  2)
    (unaudited)     (audited)  

17

  

Paid up Equity Share Capital (Face value of LOGO 10 per share)

       28500         28500        28500        28500   
       

 

 

    

 

 

   

 

 

   

 

 

 

18

  

Reserves excluding Revaluation Reserve

              93340   
       

 

 

    

 

 

   

 

 

   

 

 

 

19

  

Debenture Redemption Reserve

              35013   
       

 

 

    

 

 

   

 

 

   

 

 

 

20

  

Earnings Per Share (EPS)

       3.32         (0.18     (5.01     (21.87
  

Basic and diluted earnings per share before and after Extraordinary Items ( LOGO )

           
       

 

 

    

 

 

   

 

 

   

 

 

 


LOGO

 

C. Standalone Business Segment Information:

( LOGO in Lakhs)

 

     Standalone  

Particulars

   For the quarter ended     For the year ended  
     June 30 2013     March 31 2013     June 30 2012     March 31 2013  
     (unaudited)     (audited)
(Refer note 2)
    (unaudited)     (audited)  

Income from Operations

        

Global Voice Solutions

     29856        31013        32157        119311   

Global Data and Managed Services

     84209        84010        76065        322301   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total

     114065        115023        108222        441612   
  

 

 

   

 

 

   

 

 

   

 

 

 

Segment result

        

Global Voice Solutions

     (3604     (1357     (3638     (14423

Global Data and Managed Services

     67306        67403        57531        251273   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total

     63702        66046        53893        236850   
  

 

 

   

 

 

   

 

 

   

 

 

 

Less :

        

(i) Finance Cost

     1586        2158        3292        11969   

(ii) Other Unallocable Expenses (net)

     *27390        **27914        34242        ***159212   
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit / (Loss) before Taxes

     34726        35974        16359        65669   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

* Includes Exceptional Items LOGO (21622)
** Includes Exceptional Items LOGO (18336)
*** Includes Exceptional Items LOGO (15835)


LOGO

 

D. Consolidated Business Segment Information:

( LOGO in Lakhs)

 

      Consolidated  

Particulars

   For the quarter ended     For the year ended  
     June 30 2013     March 31 2013     June 30 2012     March 31 2013  
     (unaudited)     (audited)
(Refer note 2)
    (unaudited)     (audited)  

Income from Operations

        

Global Voice Solutions

     222307        218818        204848        856469   

Global Data and Managed Services

     179577        174632        159796        675343   

South Africa Operations

     47739        46410        45860        188548   

Others

     175        186        235        935   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total

     449798        440046        410739        1721295   
  

 

 

   

 

 

   

 

 

   

 

 

 

Segment result

        

Global Voice Solutions

     40569        37047        35952        140359   

Global Data and Managed Services

     115380        110541        107912        443630   

South Africa Operations

     5812        2172        729        5148   

Others

     (177     (2644     (369     (3544
  

 

 

   

 

 

   

 

 

   

 

 

 

Total

     161584        147116        144224        585593   
  

 

 

   

 

 

   

 

 

   

 

 

 

Less :

        

(i) Finance Costs

     16629        18781        20628        79414   

(ii) Other Unallocable Expenses (net)

     *122543        **118721        132524        ***549250   
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit / (Loss) before Taxes

     22412        9614        (8928     (43071
  

 

 

   

 

 

   

 

 

   

 

 

 

 

* Includes Exceptional Items LOGO (21622)
** Includes Exceptional Items LOGO (18332)
*** Includes Exceptional Items LOGO (10418)


LOGO

 

Notes to Segments:

The Company’s reportable business segments are Global Voice Solutions (GVS), Global Data and Managed Services (GDMS), South Africa Operations and others. The composition of the reportable segments is as follows:

GVS includes International and National Long Distance Voice services.

GDMS includes Corporate Data Transmission services, data center, virtual private network signalling and roaming services, television and other network and managed services.

South Africa Operations are carried out by the Company’s subsidiary Neotel Pty Ltd. and comprise wholesale international voice and data transit, enterprise business solution services for the wholesale and corporate market, telephony and data services for retail customers in South Africa.

Others primarily comprise a Joint venture business.

Revenues and interconnect charges are directly attributable to the segments. Space segment utilization charges, rent of landlines and other network and transmission costs are allocated based on utilization of satellite and landlines. License fee for GVS and GDMS have been allocated based on net adjusted gross revenues from these services. Segment result is segment revenues less segment expenses. Certain costs including depreciation which are not allocable to GVS and GDMS have been classified as “Other Unallocable Expenses (net)”.

Telecommunication services are provided utilizing the Company’s assets which do not generally make a distinction between the types of services. As a result, fixed assets are used interchangeably between segments. In the absence of a meaningful basis to allocate assets and liabilities between segments, no allocation has been made.


LOGO

 

Notes:

 

1. The above Standalone and Consolidated results of the Company for the quarter ended June 30, 2013 have been subjected to limited review by the statutory auditors, recommended by the audit committee and were taken on record and approved by the Board of Directors at their meeting held on July 26, 2013.

 

2. The figures for the quarter ended March 31, 2013 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2013 and the published figures for the nine months ended December 31, 2012.

 

3. Other Income includes:

Foreign exchange fluctuation

( LOGO in Lakhs)

 

Net foreign exchange loss/(gain)

   For the quarter ended
    For the year ended  
   June 30 2013     March 31 2013     June 30 2012     March 31 2013  
     (unaudited)     (audited)
(Refer note  2)
    (unaudited)     (audited)  

- Standalone

     (1291     448        148        1543   

- Consolidated

     (1557     (1162     (1887     (1448

 

4. Results include exceptional items:

 

  a. For the quarter ended June 30, 2013, Input credits against certain statutory obligations relating to earlier periods have been accounted for during the quarter on crystallization of the entitlements to such credits.

 

  b. For the quarter and the financial year ended March 31, 2013, in respect of Standalone financials, Employee cost optimization expenses amounting to LOGO 626 lakhs and LOGO 3127 lakhs respectively and gain on sale of fixed asset of LOGO 18962 lakhs and in respect of Consolidated financials, employee cost optimization expenses amounting to LOGO 630 lakhs and LOGO 8544 lakhs respectively and gain on sale of fixed asset of LOGO 18962 lakhs.

 

5. During the year 2013, the Company has submitted to the Bombay and the National Stock Exchange the proposed “Scheme of Arrangement” between the Company and the S&A Internet Services Private Limited (“the Subsidiary Company”), for transfer of the IDC division (Colocation Service division of the Company) on going concern basis to the Subsidiary Company. The Scheme has been approved by the Board of Directors of the Company at its meeting held on March 1, 2013 and is subject to the approval of the shareholders and the Bombay High Court. The financial results do not include any adjustments that may arise on implementation of the Scheme

 

6. During the Quarter, the Company filed Form 25 with the U.S. Securities and Exchange Commission and consequent to the filing, the delisting of its American Depositary Shares (“ADRs”), as evidenced by American Depositary Receipts (“ADRs”), from the New York Stock Exchange has become effective at the close of business of June 7, 2013.

 

7. The previous period’s figures have been rearranged wherever necessary to make them comparable with the current period’s figures.

For TATA COMMUNICATIONS LIMITED

VINOD KUMAR

MANAGING DIRECTOR &

GROUP CEO

Place : Mumbai.

Date : July 26, 2013