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

Exhibit 99.1

HQ/CS/CL.24B/15030

9 February 2013

Sir,

Sub : Un-audited Financial Results for the period ended 31 December 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 31 December 2012, which has been approved by the Board of Directors in their meeting, held on 9 February 2013. (Attachment “A”)

b) Limited Review Report of the auditors on the unaudited financial results for the quarter ended 31 December 2012 (Attachment “B”).

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

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

( in Lakhs)

A. STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2012

Part I

		Standalone
		For the quarter ended						For the nine months ended				For the year ended
	Particulars	December 31 2012		September 30 2012		December 31 2011		December 31 2012		December 31 2011		March 31 2012
		(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)		(audited)
1	Income from Operations		108923		109444		101923		326589		299113		409177
2	Expenses
	a. Network and transmission expenses		47261		50503		43839		150124		125137		173650
	b. Employee benefit expense		14286		17122		15551		48273		44862		62224
	c. Depreciation and amortization expenses		19701		18678		17886		56450		51252		70708
	d. Other expense		18808		22130		20325		60918		54056		74506
	e. Total Expenditure (2a to 2d)		100056		108433		97601		315765		275307		381088
3	Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)		8867		1011		4322		10824		23806		28089
4	Other Income		6452		6026		4838		31183		12030		17910
5	Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)		15319		7037		9160		42007		35836		45999
6	Finance Cost		3162		3357		4880		9811		15475		19487
7	Profit / (Loss) from Ordinary activities after Finance costs but before Exceptional Items (5 - 6)		12157		3680		4280		32196		20361		26512
8	Exceptional Items		2501		—		—		2501		—		—
9	Profit / (Loss) from Ordinary Activities before Tax (7-8)		9656		3680		4280		29695		20361		26512
10	Tax Expense		2896		1283		1332		9125		7047		9378
11	Net Profit / (Loss) from Ordinary Activities after Tax (9- 10)		6760		2397		2948		20570		13314		17134
12	Extraordinary Items (net of Tax Expense)		—		—		—		—		—		—
13	Net Profit/(Loss) for the period (11 - 12)		6760		2397		2948		20570		13314		17134
14	Paid up Equity Share Capital (Face value of 10 per share)		28500		28500		28500		28500		28500		28500
15	Paid up Debt Capital												135729
16	Reserves excluding Revaluation Reserve												664505
17	Debenture Redemption Reserve												73074
18	Earnings Per Share (EPS)		2.37		0.85		1.03		7.22		4.67		6.01
	Basic and diluted earnings per share before and after Extraordinary Items ( )

A. STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2012

Part II

		For the quarter ended									For the nine months ended						For the year ended
A) Particulars of Shareholding		December 31 2012			September 30 2012			December 31 2011			December 31 2012			December 31 2011			March 31 2012
1.	Public shareholding
a.	Number of shares		52155457			51480457			49051425			52155457			49051425			50411507
b.	Percentage of shareholding		18.30	%		18.06	%		17.21	%		18.30	%		17.21	%		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		15815670			16490670			18919702			15815670			18919702			17559620

Particulars	Quarter ended on 31.12.2012
B) Investor complaints
Pending at the beginning of the quarter	Nil
Received during the quarter	0
Resolved during the quarter	0
Remaining unresolved at the end of the quarter	Nil

( in Lakhs)

B. STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2012

Part I

		Consolidated
		For the quarter ended									For the nine months ended						For the year ended
		December 31 2012			September 30 2012			December 31 2011			December 31 2012			December 31 2011			March 31 2012
	Particulars	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(audited)
1	Income from Operations		443411			427099			360410			1281249			1023477			1419605
2	Expenses
	a. Network Costs		249464			240431			198998			716708			573262			789361
	b. Employee benefits expense		56823			63798			51091			180660			149118			211991
	c. Depreciation and Amortisation		54004			53072			47283			159977			132726			182004
	d. Other Expenses		77018			78935			60135			226564			170476			239104
	e. Total Expenditure (2a to 2d)		437309			436236			357507			1283909			1025582			1422460
3	Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)		6102			(9137	)		2903			(2660	)		(2105	)		(2855	)
4	Other Income / (Expense), Net		4019			3178			5220			18522			9076			14480
5	Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)		10121			(5959	)		8123			15862			6971			11625
6	Finance Costs		18883			21122			19215			60633			64846			83427
7	Profit / (Loss) from Ordinary Activities after Finance costs but before Exceptional Items (5 - 6)		(8762	)		(27081	)		(11092	)		(44771	)		(57875	)		(71802	)
8	Exceptional Items		7914			—			—			7914			—			—
9	Profit / (Loss) from Ordinary Activities before Tax (7-8)		(16676	)		(27081	)		(11092	)		(52685	)		(57875	)		(71802	)
10	Tax Expense		4046			1886			1551			11212			6464			6595
11	Net Profit / (Loss) from Ordinary Activities after Tax (9 – 10)		(20722	)		(28967	)		(12643	)		(63897	)		(64339	)		(78397	)
12	Extraordinary Items (net of Tax Expense)		—			—			—			—			—			—
13	Net Profit / (Loss) for the period (11 - 12)		(20722	)		(28967	)		(12643	)		(63897	)		(64339	)		(78397	)
14	Share in Profit / (Loss) of Associates		(36	)		12			31			(12	)		(510	)		(418	)
15	Minority Interest		657			1531			(2694	)		2098			11478			(650	)
16	Net Profit / (Loss) after taxes, minority interest and share of profit/(loss) of associates (13+14+15)		(20101	)		(27424	)		(15306	)		(61811	)		(53371	)		(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)		(7.05	)		(9.62	)		(5.37	)		(21.69	)		(18.73	)		(27.88	)
	Basic and diluted earnings per share before and after Extraordinary Items ( )

C. Standalone Business Segment Information:

( in Lakhs)

Particulars	Standalone
	For the quarter ended								For the nine months ended					For the year ended
	December 31 2012			September 30 2012			December 31 2011		December 31 2012			December 31 2011		March 31 2012
	(unaudited)			(unaudited)			(unaudited)		(unaudited)			(unaudited)		(audited)
Income from Operations
Global Voice Solutions		26335			29806			31702		88298			92977		127142
Global Data and Managed Services		82588			79638			70221		238291			206136		282035
Total		108923			109444			101923		326589			299113		409177
Segment result
Global Voice Solutions		(5748	)		(3680	)		1866		(13066	)		8083		8750
Global Data and Managed Services		66124			60215			52395		183871			157970		218981
Total		60376			56535			54261		170805			166053		227731
Less :
(i) Finance Cost		3162			3357			4880		9811			15475		19487
(ii) Other Unallocable Expenses (net)		*47558			49498			45101		*131299			130217		181732
Profit / (Loss) before Taxes		9656			3680			4280		29695			20361		26512

* Includes Exceptional Items 2501

D. Consolidated Business Segment Information:

( in Lakhs)

Particulars	Consolidated
	For the quarter ended									For the nine months ended						For the year ended
	December 31 2012			September 30 2012			December 31 2011			December 31 2012			December 31 2011			March 31 2012
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(audited)
Income from Operations
Global Voice Solutions		221427			211376			172727			637651			491537			681180
Global Data and Managed Services		173888			167027			143748			500711			403353			564616
South Africa Operations		47877			48401			43664			142138			127674			172378
Others		219			295			271			749			913			1431
Total		443411			427099			360410			1281249			1023477			1419605
Segment result
Global Voice Solutions		35330			32030			29863			103312			84734			117745
Global Data and Managed Services		121932			117722			106767			353427			296012			413917
South Africa Operations		227			2020			(3125	)		2976			(17227	)		(17747	)
Others		(506	)		(25	)		(510	)		(900	)		(1313	)		(1587	)
Total		156983			151747			132995			458815			362206			512328
Less :
(i) Finance Costs		18883			21122			19215			60633			64846			83427
(ii) Other Unallocable Expenses (net)		*154776			157706			124872			*450867			355235			500703
Profit / (Loss) before Taxes		(16676	)		(27081	)		(11092	)		(52685	)		(57875	)		(71802	)

* Includes Exceptional Items 7914

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 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 and nine months ended December 31, 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 February 9, 2013.

2. Other Income includes:

Foreign Exchange Fluctuation

( in Lakhs)

Net foreign exchange (gain)/loss	For the quarter ended									For the nine months ended						For the year ended
	December 31 2012			September 30 2012			December 31 2011			December 31 2012			December 31 2011			March 31 2012
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(audited)
- Standalone		(21	)		(926	)		473			(1095	)		(826	)		(2696	)
- Consolidated		232			(1833	)		(1465	)		286			377			(3406	)

3. Standalone and Consolidated results for the quarter and the nine months ended December 31, 2012 include exceptional items towards employee cost optimization expenses amounting to 2501 lakhs and 7914 lakhs respectively.

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 : February 09, 2013