Tata Communications Ltd. share price target

A weak quarter, but long-term prospects promising Flat EBITDA on weak data segment performance: Consol. revenue fell 2% QoQ (-6.5% YoY) to INR 42.2b (4% miss) due to a decline in voice revenue (-6.4% QoQ, -20% YoY) to INR14.3b. Consol. EBITDA stood at INR5.6b, marginally up by 1% QoQ (-14% YoY, 4% miss), as a 2% drop in data EBITDA was offset by 17% voice EBITDA growth. Core PAT turned negative at INR2.5b v/s INR323m in the previous quarter. Adjusted PAT was down 10% QoQ to INR 0.3b (adj. for INR1.9b provision for TTSL investment and other exceptional provisions of INR0.3b.)...

Tata Communication (TCL) reported its Q1FY18 results. Topline de-grew by 3% YoY; but in USD term revenue growth was 0.3% YoY.

Revenues came in at | 4310 crore vs. our estimate of | 4235 crore. The beat was due to voice revenues, which came in at | 1533.4 crore vs. our estimate of | 1437.7 crore, as volumes of 10.8 billion minutes (decline of 3.6% YoY), were higher than estimated 10.2 billion minutes (8.7% YoY decline). Data revenues at | 2776.6 crore (underlying growth of 4.6% YoY) was largely in line with our estimate of | 2797.7 crore. The data business growth would have been higher but for disappointment in payment solutions business (decline of 35.7% YoY),...

Tata Communication (TCL) reported its Q4FY17 results. Topline de-grew by 12.6% YoY (against our expectation of 5% YoY de-growth) as certain one of events and demonetization impacted...

ICICI Securities Ltd | Retail Equity Research The overall revenues came in at | 4293.7 crore vs. our estimates of | 4386.1 crore. The miss was due to voice revenues which came in at | 1503.0 crore vs. our estimates of | 1612.8 crore, as volumes declined 5.7% YoY to 10 billion minutes. The data revenues at | 2796.6 crore...

Revenue decreased by 3.31% to Rs. 4360.05 Cr in Q3FY17 when compared to the previous quarter

ICICI Securities Ltd | Retail Equity Research On a like-to-like basis (including the Neotel & data centre), the topline came in came in at | 4872.4 crore vs. our estimate of | 4836.1 crore, aided by higher-than-expected revenues from Neotel. Voice revenues continued to remain subdued at | 1652.4 crore, down 16.7% YoY vs. our expectation of | 1710.3 crore. Overall data revenues came in at | 2766.4 crore (our estimate: | 2723 crore), down 5.1% QoQ, impacted by subdued performance in the payment...

Deleveraging Drive To Continue

ICICI Securities Ltd | Retail Equity Research The company reported continuing operation revenues of | 450.9 crore. However, on a like-to-like basis (including the Neotel & Data Centre), the topline came in at | 5091.1 (down 1.2% YoY) vs. our expectation of | 5156.6 crore. The slight miss on the topline largely emanated from revenues from the data business, which were at | 2915.7 crore, up 12.7% YoY vs. our expectation of | 3014.9 crore. Data revenues came in at | 1773.8 crore (down 14.3% YoY), albeit...

Data business, the major growth driver of telecom industry, is growing at rapid pace both in domestic and international market as modern life is increasingly depending on internet and...