Tata Communications reported a 30% slump in first-quarter profit on Wednesday, hit by higher interest costs and lower foreign exchange gains.Consolidated net profit for the quarter ended June 30, was 3.82 billion rupees ($46.6 million), compared with 5.44 billion rupees a year ago. The company also plans to raise up to 18 billion rupees by way of a private placement of non-convertible debentures.
Tata Communications posts 30% slump in profit as expenses weigh
Tata Communications reported a 30% slump in first-quarter profit on Wednesday, hit by higher interest costs and lower foreign exchange gains.Consolidated net profit for the quarter ended June 30, was 3.82 billion rupees ($46.6 million), compared with 5.44 billion rupees a year ago. The company also plans to raise up to 18 billion rupees by way of a private placement of non-convertible debentures.