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

Exhibit 99.1

HQ/CS/CL.24B/14971

6 November 2012

Sir,

Sub : Un-audited Financial Results for the period ended 30 September 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 September 2012, which has been approved by the Board of Directors in their meeting, held on 6 November 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 September 2012 (Attachment “C”).

Thanking you,

Yours faithfully,

For Tata Communications Limited

/s/ Satish Ranade

Satish Ranade

Company Secretary & CLO

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 Bandra Kurla Complex, 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.

( in Lakhs)

A. STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2012

Part I

		Standalone
		For the quarter ended						For the half year ended				For the year ended
	Particulars	September 30 2012		June 30 2012		September 30 2011		September 30 2012		September 30 2011		March 31 2012
		(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)		(audited)
1	Income from Operations		109444		108222		102661		217666		197190		409177
2	Expenses
	a. Network and transmission expenses		50503		52360		41638		102863		81298		173650
	b. Employee benefit expense		17122		16865		14209		33987		29311		62224
	c. Depreciation and amortization expenses		18678		18071		17092		36749		33366		70708
	d. Other expense		22130		19980		17264		42110		33731		74506
	e. Total Expenditure (2a to 2d)		108433		107276		90203		215709		177706		381088
3	Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)		1011		946		12458		1957		19484		28089
4	Other Income		6026		18705		2661		24731		7192		17910
5	Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)		7037		19651		15119		26688		26676		45999
6	Finance Cost		3357		3292		5360		6649		10595		19487
7	Profit / (Loss) from Ordinary activities after Finance costs but before Exceptional Items (5 - 6)		3680		16359		9759		20039		16081		26512
8	Exceptional Items		—		—		—		—		—		—
9	Profit / (Loss) from Ordinary Activities before Tax (7-8)		3680		16359		9759		20039		16081		26512
10	Tax Expense		1283		4947		3571		6230		5715		9378
11	Net Profit / (Loss) from Ordinary Activities after Tax (9- 10)		2397		11412		6188		13809		10366		17134
12	Extraordinary Items (net of Tax Expense)		—		—		—		—		—		—
13	Net Profit/(Loss) for the period (11 - 12)		2397		11412		6188		13809		10366		17134
14	Paid up Equity Share Capital (Face value of 10 per share)		28500		28500		28500		28500		28500		28500
15	Paid up Debt Capital								142864		215992		135729
16	Reserves excluding Revaluation Reserve												664505
17	Debenture Redemption Reserve												73074
18	Earnings Per Share (EPS)		0.85		4.00		2.17		4.85		3.64		6.01
	Basic and diluted earnings per share before and after Extraordinary Items ( )
19	Debt Equity Ratio								0.20		0.30		0.19
20	Debt Service Coverage Ratio (DSCR)#								8.63		5.08		1.16
21	Interest Service Coverage Ratio (ISCR)##								9.47		5.65		5.97

# DSCR = (Profit from Ordinary Activities before Tax and Exceptional Items + Depreciation + Interest on Long-Term Loans) /(Interest on Long-Term Loans + Repayment of Long - Term Loans during the year)*

## ISCR = (Profit from Ordinary Activities before Tax and Exceptional Items + Depreciation + Interest on Long -Term Loans)/Interest on Long-Term Loans*

* Loans having original maturity of more than 360 days are considered as Long-Term Loans.

A. STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2012

Part II

	For the quarter ended									For the half year ended						For the  year ended
A) Particulars of Shareholding	September 30 2012			June 30 2012			September 30 2011			September 30 2012			September 30 2011			March 31 2012
1. Public shareholding a. Number of shares		51480457			51388457			49161129			51480457			49161129			50411507
b. Percentage of shareholding		18.06	%		18.03	%		17.25	%		18.06	%		17.25	%		17.69	%
2. Promoters and Promoter Group Shareholding
a. Pledged / Encumbered - Number of Shares		10000000			10000000			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	%		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	%		3.51	%		3.51	%
b. Non-encumbered - Number of Shares		207028873			207028873			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	%		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	%		72.64	%		72.64	%
3. Shares held by custodian and against which Depository Receipts have been issued-
(I) Promoters and promoters group		—			—			—			—			—			—
(II) Public		16490670			16582670			18809998			16490670			18809998			17559620

Particulars	Quarter ended  on 30.09.2012
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

( in Lakhs)

B. STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2012

Part I

		Consolidated
		For the quarter ended									For the half year ended						For the year ended
		September 30 2012			June 30 2012			September 30 2011			September 30 2012			September 30 2011			March 31 2012
	Particulars	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(audited)
1	Income from Operations		427099			410739			337361			837838			663067			1419605
2	Expenses
	a. Network Costs		240431			226813			186248			467244			374264			789361
	b. Employee benefits expense		63798			60039			48897			123837			98027			211991
	c. Depreciation and Amortisation		53072			52901			43401			105973			85443			182004
	d. Other Expenses		78935			70611			54415			149546			110341			239104
	e. Total Expenditure (2a to 2d)		436236			410364			332961			846600			668075			1422460
3	Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)		(9137	)		375			4400			(8762	)		(5008	)		(2855	)
4	Other Income / (Expense), Net		3178			11325			(187	)		14503			3856			14480
5	Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)		(5959	)		11700			4213			5741			(1152	)		11625
6	Finance Costs		21122			20628			25194			41750			45631			83427
7	Profit / (Loss) from Ordinary Activities after Finance costs but before Exceptional Items (5 - 6)		(27081	)		(8928	)		(20981	)		(36009	)		(46783	)		(71802	)
8	Exceptional Items		—			—			—			—			—			—
9	Profit / (Loss) from Ordinary Activities before Tax (7-8)		(27081	)		(8928	)		(20981	)		(36009	)		(46783	)		(71802	)
10	Tax Expense		1886			5280			2841			7166			4913			6595
11	Net Profit / (Loss) from Ordinary Activities after Tax (9 – 10)		(28967	)		(14208	)		(23822	)		(43175	)		(51696	)		(78397	)
12	Extraordinary Items (net of Tax Expense)		—			—			—			—			—			—
13	Net Profit / (Loss) for the period (11 - 12)		(28967	)		(14208	)		(23822	)		(43175	)		(51696	)		(78397	)
14	Share in Profit / (Loss) of Associates		12			12			—			24			(541	)		(418	)
15	Minority Interest		1531			(90	)		7302			1441			14172			(650	)
16	Net Profit / (Loss) after taxes, minority interest and share of profit/(loss) of associates (13+14+15)		(27424	)		(14286	)		(16520	)		(41710	)		(38065	)		(79465	)
17	Paid up Equity Share Capital (Face value of 10 per share)		28500			28500			28500			28500			28500			28500
18	Reserves excluding Revaluation Reserve																	179038
19	Debenture Redemption Reserve																	73074
20	Earnings Per Share (EPS)		(9.62	)		(5.01	)		(5.80	)		(14.63	)		(13.36	)		(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 half year ended					For the year ended
	September 30 2012			June 30 2012			September 30 2011		September 30 2012			September 30 2011		March 31 2012
Particulars	(unaudited)			(unaudited)			(unaudited)		(unaudited)			(unaudited)		(audited)
Income from Operations
Global Voice Solutions		29806			32157			31915		61963			61275		127142
Global Data and Managed Services		79638			76065			70746		155703			135915		282035
Total		109444			108222			102661		217666			197190		409177
Segment result
Global Voice Solutions		(3680	)		(3638	)		3798		(7318	)		6217		8750
Global Data and Managed Services		60215			57531			54820		117746			105574		218981
Total		56535			53893			58618		110428			111791		227731
Less :
(i) Finance Cost		3357			3292			5360		6649			10595		19487
(ii) Other Unallocable Expenses (net)		49498			34242			43499		83740			85115		181732
Profit / (Loss) before Taxes		3680			16359			9759		20039			16081		26512

D. Consolidated Business Segment Information:

( in Lakhs)            

Particulars	Consolidated
	For the quarter ended									For the half year ended						For the year ended
	September 30 2012			June 30 2012			September 30 2011			September 30 2012			September 30 2011			March 31 2012
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(audited)
Income from Operations
Global Voice Solutions		211376			204848			157582			416224			318810			681180
Global Data and Managed Services		167027			159796			133205			326823			259605			564616
South Africa Operations		48401			45860			46276			94261			84010			172378
Others		295			235			298			530			642			1431
Total		427099			410739			337361			837838			663067			1419605
Segment result
Global Voice Solutions		32030			35952			29123			67982			54871			117745
Global Data and Managed Services		117722			113773			96817			231495			189245			413917
South Africa Operations		2020			729			(3069	)		2749			(14102	)		(17747	)
Others		(25	)		(369	)		(468	)		(394	)		(803	)		(1587	)
Total		151747			150085			122403			301832			229211			512328
Less:
(i) Finance Costs		21122			20628			25194			41750			45631			83427
(ii) Other Unallocable Expenses (net)		157706			138385			118190			296091			230363			500703
Profit / (Loss) before Taxes		(27081	)		(8928	)		(20981	)		(36009	)		(46783	)		(71802	)

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.

E. Unaudited Statement of Standalone Assets and Liabilities as at September 30, 2012

( in Lakhs)        

Particulars	Standalone
	As at September 30 2012		As at March 31 2012
	(unaudited)		(audited)
A EQUITY AND LIABILITIES
1. Shareholders’ funds
(a) Share Capital		28500		28500
(b) Reserves and Surplus		697999		685197
Sub-total - Shareholders’ funds		726499		713697
2. Non-current liabilities
(a) Long-term borrowings		82500		82500
(b) Deferred tax liabilities (Net)		—		1642
(c) Other Long term liabilities		38810		38408
(d) Long-term provisions		12696		12768
Sub-total - Non-current liabilities		134006		135318
3. Current liabilities
(a) Short-term borrowings		20364		12583
(b) Trade payables		129772		119504
(c) Other current liabilities		100747		94585
(d) Short-term provisions		3501		9925
Sub-total - Current liabilities		254384		236597
TOTAL - EQUITY AND LIABILITIES		1114889		1085612
B ASSETS
1. Non-current assets
(a) Fixed assets		513966		505534
(b) Non-current investments		181027		178827
(c) Deferred tax assets (Net)		1001		—
(d) Long-term loans and advances		272682		276130
(e) Other non-current assets		808		808
Sub-total - Non-current assets		969484		961299
2. Current assets
(a) Current investments		5693		—
(b) Inventories - stores and spares		205		45
(c) Trade receivables		80360		70994
(d) Cash and bank balances		7622		5332
(e) Short-term loans and advances		33151		31894
(f) Other current assets		18374		16048
Sub-total - Current assets		145405		124313
TOTAL - ASSETS		1114889		1085612

Note:

The unaudited statement of standalone assets and liabilities has been prepared in the format prescribed by the Revised Schedule VI of the Companies Act, 1956.

Previous period figures have been recast/restated to conform to the classification of the current period.

Notes:

1. The above results of the Company for the quarter and half year ended September 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 November 6, 2012.

2. Other Income includes:

a) Foreign Exchange Fluctuation

( in Lakhs)

Net foreign exchange (gain)/loss	For the quarter ended								For the half year ended						For the year ended
	September 2012			June 2012			September 2011		September 2012			September 2011			March 2012
	(unaudited)			(unaudited)			(unaudited)		(unaudited)			(unaudited)			(audited)
- Standalone		(926	)		(148	)		73		(1074	)		(1299	)		(2696	)
- Consolidated		(1833	)		1887			2913		54			1842			(3406	)

b) Other Income for the quarter ended June 30, 2012 and half year ended September 30, 2012 includes 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 previous quarter, Department of Telecommunication refunded 22624 lakhs consequent to a favorable order from Telecom Disputes Settlement & Appellate Tribunal.

3. 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 : November 06, 2012