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Tata Comm shares surge nearly 6 per cent on robust Q3 earnings


Tata Comm shares surge nearly 6 per cent on robust Q3 earnings

Company had posted a net profit of Rs 110.74 crore in the same period a year ago.

New Delhi: Shares of Tata Communications today surged nearly 6 per cent after the company posted an over 12-fold jump in December quarter net profit. The stock zoomed 5.83 per cent to touch its one year high of Rs 711.50 on BSE. At NSE, shares of the company soared 5.86 per cent to Rs 712.40 — its 52-week high.

Telecom firm Tata Communications yesterday posted an over 12-fold jump in its December quarter net profit at Rs 1,412.88 crore on account of realisation from sale of its data centre. The company had posted a net profit of Rs 110.74 crore in the same period a year ago.

“Consolidated PAT (profit after tax) stood at Rs 1,413 crore. Contribution from an exceptional one-time gain from the stake sale of the India Data Centre (Rs 2,138 crore) was offset by the impairment (Rs 250 crore) on account of the South African subsidiary,” Tata Communications said in a statement.

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