Tata Communications (VSL) 6-K Current report (foreign)

Exhibit 1

HQ/CS/CL.24B/14891

26 July 2012

Sir,

Sub: Un-audited Financial Results for the period ended 30 June 2012.

Pursuant to Clause 41 of the Equity Listing Agreement with Indian Stock Exchanges the following documents are submitted:

a) Un-audited Financial Results (Provisional, according to Indian GAAP) for the period ended 30 June 2012, which has been approved by the Board of Directors in their meeting, held on 26 July 2012. (Attachment “A”)

b) The press release in this regard is also attached.(Attachment “B”)

c) Limited Review Report of the auditors on the unaudited financial results for the quarter ended 30 June 2012 (Attachment “C”).

Thanking you,

Yours faithfully,

For Tata Communications Limited

/s/ Rishabh Aditya

Rishabh Aditya

Dy. Company Secretary & VP

To:

1) Security Code 500483, The Stock Exchange, Mumbai. Fax No.(22) 2272 2037,39,41

2) Security Code TATACOMM, The Asst. Manager (Listing), National Stock Exchange of India Limited. Fax Nos.: (22) 2659 8237,238, 347,348

3) National Securities Depository Ltd. Fax Nos.: 2497 2993.

4) The Bank of New York. Fax No.2204 4942.

5) Sharepro Services (India) Pvt. Ltd. Fax No. 2837 5646

6) Marc H. Iyeki, Director, New York Stock Exchange, Fax No: (212) 656-5071,72

7) Central Depository Services (India) Limited. Fax: 2267 3199.

Tata Communications Limited

Plot C 21 & C 36 ‘G’ Block BandraKurlaComplex, Mumbai 400098 India

Regd. Office: VSB Mahatma Gandhi Road Fort Mumbai – 400 001 India

Tel 91 22 6657 8765 Fax 91 22 6639 5162 website www.tatacommunications.com

TATA COMMUNICATIONS LIMITED

REGD. OFFICE: VSB, M.G. ROAD, FORT, MUMBAI-400001.

A. UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2012

(  in Lakhs)
Part I
			Standalone
			For the quarter ended						For the  year ended March 31
Particulars			June 2012		March 2012		June 2011		2012
			(unaudited)		(unaudited)		(unaudited)		(audited)
	1	Income from Operations		108222		110064		94529		409177
	2	Expenses
		a. Network and transmission expenses		52360		48513		39660		173650
		b. Employee benefit expense		16865		17362		15102		62224
		c. Depreciation and amortization expenses		18071		19456		16274		70708
		d. Other expense		19980		20450		16467		74506
		e. Total Expenditure (2a to 2d)		107276		105781		87503		381088
	3	Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)		946		4283		7026		28089
	4	Other Income		18705		5878		4531		17910
	5	Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)		19651		10161		11557		45999
	6	Finance Cost		3292		4010		5235		19487
	7	Profit / (Loss) from Ordinary activities after Finance costs but before Exceptional Items (5 - 6)		16359		6151		6322		26512
	8	Exceptional Items		—		—		—		—
	9	Profit / (Loss) from Ordinary Activities before Tax (7 - 8)		16359		6151		6322		26512
	10	Tax Expense		4947		2331		2144		9378
	11	Net Profit / (Loss) from Ordinary Activities after Tax (9 - 10)		11412		3820		4178		17134

(  in Lakhs)
Part I
		Standalone
		For the quarter ended						For the  year ended March 31
Particulars		June 2012		March 2012		June 2011		2012
		(unaudited)		(unaudited)		(unaudited)		(audited)
12	Extraordinary Items (net of Tax Expense)		—		—		—		—
13	Net Profit/(Loss) for the period (11 - 12)		11412		3820		4178		17134
14	Paid up Equity Share Capital (Face value of 10 per share)		28500		28500		28500		28500
15	Paid up Debt Capital		—		—		—		95083
16	Reserves excluding Revaluation Reserve		—		—		—		664508
17	Debenture Redemption Reserve		—		—		—		146150
18	Earnings Per Share (EPS)		4.00		1.34		1.47		6.01
	Basic and diluted earnings per share before and after Extraordinary Items ( )

Part II
	For the quarter ended									For the year ended March 31
A) Particulars of Shareholding	June 2012			March 2012			June 2011			2012
Aggregate of public shareholding
a. Number of shares		51388457			50411507			48264129			50411507
b. Percentage of shareholding		18.03	%		17.69	%		16.93	%		17.69	%
Promoters and Promoter Group Shareholding
a. Pledged / Encumbered
- Number of Shares		10000000			10000000			10000000			10000000
- Percentage of Shares (as a % of the total shareholding of promoters and promoter group)		4.61	%		4.61	%		4.61	%		4.61	%
- Percentage of Shares (as a % of the total share capital of the Company)		3.51	%		3.51	%		3.51	%		3.51	%
b. Non-encumbered
- Number of Shares		207028873			207028873			207028873			207028873
- Percentage of Shares (as a % of the total shareholding of promoters and promoter group)		95.39	%		95.39	%		95.39	%		95.39	%
- Percentage of Shares (as a % of the total share capital of the Company)		72.64	%		72.64	%		72.64	%		72.64	%
c. Shares held by custodian and against which Depository Receipts have been issued-
(I) Promoters and promoters group		—			—			—			—
(II) Public		16582670			17559620			19706998			17559620

Particulars	Quarter ended on 30.06.2012
B) Investor complaints
Pending at the beginning of the Quarter	Nil
Received during the quarter	2
Disposed off during the quarter	2
Remaining unresolved at the end of the quarter	Nil

B. UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2012

(  in Lakhs)
Part I
		Consolidated
		For the quarter ended									For the year ended March 31
Particulars		June 2012			March 2012			June 2011			2012
		(unaudited)			(unaudited)			(unaudited)			(audited)
1	Income from Operations		410739			396128			325706			1419605
2	Expenses
	a. Network Costs		226813			216099			188016			789361
	b. Employee benefits expense		60039			62873			49130			211991
	c. Depreciation and Amortisation		52901			49278			42042			182004
	d. Other Expenses		70611			68628			55926			239104
	e. Total Expenditure (2a to 2d)		410364			396878			335114			1422460
3	Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)		375			(750	)		(9408	)		(2855	)
4	Other Income		11325			5404			4043			14480
5	Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)		11700			4654			(5365	)		11625
6	Finance Costs		20628			18581			20437			83427
7	Profit / (Loss) from Ordinary Activities after Finance costs but before Exceptional Items (5 - 6)		(8928	)		(13927	)		(25802	)		(71802	)
8	Exceptional Items		—			—			—			—
9	Profit / (Loss) from Ordinary Activities before Tax (7 - 8)		(8928	)		(13927	)		(25802	)		(71802	)
10	Tax Expense		5280			131			2072			6595
11	Net Profit / (Loss) from Ordinary Activities after Tax (9 - 10)		(14208	)		(14058	)		(27874	)		(78397	)
12	Extraordinary Items (net of Tax Expense)		—			—			—			—
13	Net Profit / (Loss) for the period (11 - 12)		(14208	)		(14058	)		(27874	)		(78397	)

		( in Lakhs)
Part I
		Consolidated
		For the quarter ended									For the  year ended March 31
Particulars		June 2012			March 2012			June 2011			2012
		(unaudited)			(unaudited)			(unaudited)			(audited)
14	Share in Profit / (Loss) of Associates		12			92			(541	)		(418	)
15	Minority Interest		(90	)		(12128	)		6870			(650	)
16	Net Profit / (Loss) after taxes, minority interest and share of profit/(loss) of associates (13+14+15)		(14286	)		(26094	)		(21545	)		(79465	)
17	Paid up Equity Share Capital (Face value of 10 per share)		28500			28500			28500			28500
18	Reserves excluding Revaluation Reserve											180343
19	Debenture Redemption Reserve											73075
20	Earnings Per Share (EPS)		(5.01	)		(9.16	)		(7.56	)		(27.88	)
	Basic and diluted earnings per share before and after Extraordinary Items ( )

C. Standalone Business Segment Information:

	( in Lakhs)
	Standalone
	For the quarter ended							For the  year ended March 31
	June 2012			March 2012		June 2011		2012
Particulars	(unaudited)			(unaudited)		(unaudited)		(audited)
Income from Operations
Global Voice Solutions		32157			34165		29360		127142
Global Data and Managed Services		76065			75899		65169		282035
Total		108222			110064		94529		409177
Segment result
Global Voice Solutions		(3638	)		667		2419		8750
Global Data and Managed Services		57531			61007		50754		218981
Total		53893			61674		53173		227731
Less:
(i) Finance Cost		3292			4010		5235		19487
(ii) Other Unallocable Expenses (net)		34242			51513		41616		181732
Profit / (Loss) before Taxes and Exceptional Items		16359			6151		6322		26512
Exceptional Expenses/(Income) (net)		—			—		—		—
Profit / (Loss) before Taxes		16359			6151		6322		26512
Tax Expense		4947			2331		2144		9378
Net Profit / (Loss)		11412			3820		4178		17134

D. Consolidated Business Segment Information:

(  in Lakhs)
	Consolidated
	For the quarter ended									For the  year ended March 31
Particulars	June 2012			March 2012			June 2011			2012
	(unaudited)			(unaudited)			(unaudited)			(audited)
Income from Operations
Global Voice Solutions		204848			189643			161228			681180
Global Data and Managed Services		159796			161263			126400			564616
South Africa Operations		45860			44704			37735			172378
Others		235			518			343			1431
Total		410739			396128			325706			1419605
Segment result
Global Voice Solutions		35952			33011			25748			117745
Global Data and Managed Services		113773			117906			92428			413917
South Africa Operations		729			(520	)		(11033	)		(17747	)
Others		(369	)		(273	)		(335	)		(1587	)
Total		150085			150124			106808			512328
Less:
(i) Finance Costs		20628			18581			20437			83427
(ii) Other Unallocable Expenses (net)		138385			145470			112173			500703
Profit / (Loss) before Taxes and Exceptional Items		(8928	)		(13927	)		(25802	)		(71802	)
Exceptional Expenses / (Income) (net)		—			—			—			—
Profit / (Loss) before Taxes		(8928	)		(13927	)		(25802	)		(71802	)
Tax Expense		5280			131			2072			6595
Net Profit / (Loss) before Minority Interest and Associate Profit / (Loss)		(14208	)		(14058	)		(27874	)		(78397	)
Share in Profit / (Loss) of Associates		12			92			(541	)		(418	)
Minority Interest		(90	)		(12128	)		6870			(650	)
Net Profit / (Loss) for the period		(14286	)		(26094	)		(21545	)		(79465	)

Notes to Segments:

The Company’s reportable business segments are Global Voice Solutions (GVS), Global Data and Managed Services (GDMS), South Africa Operations and others. The composition of the reportable segments is as follows:

GVS includes International and National Long Distance Voice services.

GDMS includes Corporate Data Transmission services, data centers, virtual private network signaling and roaming services, television and other network and managed services.

South Africa Operations are carried out by the Company’s subsidiary Neotel Pty Ltd. and offer wholesale international voice and data transit, enterprise business solution services for the wholesale and corporate market, telephony and data services for retail customers in South Africa.

Others primarily comprise of a Joint venture business.

Revenues and interconnect charges are directly attributable to the segments. Space segment utilization charges, rent of landlines and other network and transmission costs are allocated based on utilization of satellite and landlines. License fee for GVS and GDMS have been allocated based on net adjusted gross revenues from these services. Segment result is segment revenues less segment expenses. Certain costs including depreciation which are not allocable to GVS and GDMS have been classified as “Other Unallocable Expenses (net)”.

Telecommunication services are provided utilizing the Company’s assets which do not generally make a distinction between the types of services. As a result, fixed assets are used interchangeably between segments. In the absence of a meaningful basis to allocate assets and liabilities between segments, no allocation has been made.

Notes:

1. The above results of the Company for the quarter ended June 30, 2012 have been subjected to a limited review by the statutory auditors, recommended by the audit committee and were taken on record and approved by the Board of Directors at their meeting held on July 26, 2012.

2. Other Income includes:

a) Foreign Exchange Fluctuation

(  in Lakhs)
	For the quarter ended									For the year ended March 31,
Net foreign exchange (gain)/loss	June 2012			March 2012			June 2011			2012
	(unaudited)			(unaudited)			(unaudited)			(audited)
- Standalone		(148	)		(1871	)		(1372	)		(2696	)
- Consolidated		1887			(3783	)		(1071	)		(3406	)

b) An amount of  11051 lakhs being reversal of a provision made in an earlier year -  2724 lakhs and an interest of 8327 lakhs calculated on Penalty of  11573 lakhs. During the quarter, Department of Telecommunication refunded 22624 lakhs consequent to a favorable order from Telecom Disputes Settlement & Appellate Tribunal.

3. Figures for the quarter ended March 31, 2012 are the balancing figures between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the relevant financial year.

4. The previous period’s figures have been regrouped and reclassified wherever necessary to make them comparable with the current period’s figures.

For TATA COMMUNICATIONS LIMITED

/s/ VINOD KUMAR

VINOD KUMAR

MANAGING DIRECTOR &

GROUP CEO

Place    : Mumbai.

Date     : July 26, 2012