Tata Comm stock declines after Q1FY19 net loss
Shares of Tata Communications declined over 5% as the company posted net loss stood in Q1FY19 at Rs58.5cr against estimate of Rs43.4cr.
The EBITDA was in-line with estimates for Q1FY19, however profitability was lower than expected.
Also, the company’s revenue dropped 9.2% yoy to Rs3,912cr (expectation Rs4,011cr). EBITDA stood at Rs555cr, down 0.6% yoy, against estimates of Rs553cr. EBIDTA margin rose 123bps yoy to 14.2%.
Tata Communications Ltd is currently trading down 4.78% at Rs561.20 from its previous closing of Rs589.35 on the BSE.
The scrip opened at Rs584 and has touched a high and low of Rs587 and Rs552, respectively.
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