Tata Communications Ltd. share price target

ICICI Securities Ltd | Retail Equity Research Revenues for the quarter came in at | 4068.2 crore vs. our estimate of | 4010.1 crore. We note that from now onwards, the company has re-aligned rental revenues (previously shown in other income) as part of data segment revenues. Therefore, our estimates are not comparable. Data revenues reported growth of 9.1% YoY to | 3069.1 crore. Data revenue growth more or less compensates for continued weak voice revenues, which declined 30.4% YoY...

3 November 2018 After being restricted by two quarters of subdued performance in Data segment, consol. for rental income) growth came in at a healthy 8% QoQ (at INR6.0b 5% beat), supported by both Data and Voice businesses; EBITDA margin, too, expanded 65bp QoQ to 14.8%. revenue grew 3% QoQ (-4% YoY) to INR40.7b (2% beat), primarily led by strong growth in Data revenue. PAT came in at INR16m items, PAT was at INR1m. Revenue fell 6% YoY, while EBITDA grew 6% YoY. EBITDA margin expanded 170bp YoY to 15.2%. For 2HFY19, we expect revenue/EBITDA growth of 3%/11% YoY. Adjusted for rental income, Data revenue/EBITDA grew by 5% QoQ to INR30.4b/INR5.

Revenues for the quarter came in at | 3912.3 crore vs. our estimate of | 4047.1 crore. The miss was mainly due to lower voice revenues, which came in at | 1026.8 crore (down 33% YoY) vs. our estimate of | 1113.2 crore, with volumes of 8.7 billion minutes (down 19.4% YoY) and realisation of | 1.18 (16.9% YoY decline). Data revenues came in at | 2885.5 crore (up 3.9% YoY) EBITDA came in at | 555.4 crore, with margins of 14.2% vs. our estimate of | 550.4 crore (13.6% margin). Both voice and data margins...

Revenue fell by 2.58% to Rs. 4008.58 Cr in Q4FY18 when compared to the previous quarter. Tata Communications Ltd Q4FY18 results Comment

Tata Communication's (TCL) board has approved the scheme of reconstruction between Hemisphere Properties and itself, whereby TCL will transfer surplus land to Hemisphere for which equity share will be issued to shareholders of TCL in the ratio of 1:1. The record date for demerger, however, is awaited. The company has also indicated that...

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...