Indian fixed line and broadband operator Tata Communications has released its financial results for the three months ended 31 March 2009, posting a more than five-fold increase in net profit following a one-off gain from the sale of shares in Tata TeleServices (TTSL). Tata Communications reported net profit for the three-month period at INR3.02 billion (USD60.5 million), up from INR589 million a year earlier; the company raised INR2.86 billion (net of taxes) from its shares sale to Japan’s NTT DoCoMo. Consolidated revenue, meanwhile, rose more than 20% year-on-year to INR99.63 billion, compared to INR82.97 at end-March 2008, while consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) were up 53% at INR13.5 billion.
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