Tata Telecom reports 31% revenue growth

MUMBAI: Tata Telecom, an enterprise business communication solutions

provider, has announced its financial results for the year ended March 31, 2002.

The company has recorded a 31 percent growth with a turnover of Rs 263.16 crore

as compared to Rs 200.46 crore in the corresponding previous year. The profit

after tax stands at Rs 15.68 crore as against Rs 8.37 crore in the corresponding

period, growth of 87 percent.

Announcing the results, Tata Telecom vice chairman, Niru Mehta said, "We

are exultant to see that our values of a growth mindset, result orientation
customers responsiveness, work environment that is open and supportive are

showing tangible results."

The Tata Telecom board of directors has recommended a dividend of Rs 2 per share

subject to approval of shareholders for 2001-02. The board also inducted two new
members Pradeep Mallick, director, Wartsila India Ltd. and CB Bhave, managing

director, NSDL taking the total number of board members to nine.

During the course of fiscal 2001-02, Tata Telecom has transformed itself into an

end-to-end business communications solution provider for the enterprise. As a
key element of its marketing strategy, the company continues to focus on the

high-growth vertical segments of IT enabled services, call centers, educational

institutes, banking and finance and hospitality. The company is expecting to

continue growth by 25 per cent in the next three years.