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

Exhibit 99.1

HQ/CS/CL.24B/15263

29 October 2013

Sir,

Sub : Un-audited Financial Results for the period ended 30 September 2013.

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 2013, which has been approved by the Board of Directors in their meeting, held on 29 October 2013. (Attachment A)

b) Limited Review Report of the auditors on the unaudited financial results for the quarter ended 30 September 2013 (Attachment B).

Thanking you,

Yours faithfully,

For Tata Communications Limited

Satish Ranade

Company Secretary

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.

( in Lakhs)

A. STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2013

Part I

	Particulars	Standalone
		For the quarter ended							For the half year ended				For the year ended
		September 30 2013			June 30 2013		September 30 2012		September 30 2013		September 30 2012		March 31 2013
		(unaudited)			(unaudited)		(unaudited)		(unaudited)		(unaudited)		(audited)
1	Income from Operations		121923			114065		109444		235988		217666		441612
2	Expenses
	a. Network and transmission		51893			49921		50503		101814		102863		196320
	b. Employee benefit		15588			15630		17122		31218		33987		63946
	c. Depreciation and amortization		19129			19059		18678		38188		36749		76240
	d. Other		24246			21211		22130		45457		42110		81325
	e. Total Expenditure (2a to 2d)		110856			105821		108433		216677		215709		417831
3	Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)		11067			8244		1011		19311		1957		23781
4	Other Income		12244			6446		6026		18690		24731		38022
5	Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)		23311			14690		7037		38001		26688		61803
6	Finance Cost		1577			1586		3357		3163		6649		11969
7	Profit / (Loss) from Ordinary activities after Finance costs but before Exceptional Items (5 - 6)		21734			13104		3680		34838		20039		49834
8	Exceptional Items gain/(loss)		(13489	)		21622		—		8133		—		15835
9	Profit / (Loss) from Ordinary Activities before Tax (7+8)		8245			34726		3680		42971		20039		65669
10	Tax Expense		3565			11555		1283		15120		6230		18145
11	Net Profit / (Loss) from Ordinary Activities after Tax (9 - 10)		4680			23171		2397		27851		13809		47524
12	Extraordinary Items (net of Tax Expense)		—			—		—		—		—		—
13	Net Profit/(Loss) for the period (11 - 12)		4680			23171		2397		27851		13809		47524

( in Lakhs)

A. STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2013

Part I

	Particulars	Standalone
		For the quarter ended						For the half year ended				For the year ended
		September 30 2013		June 30 2013		September 30 2012		September 30 2013		September 30 2012		March 31 2013
		(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)		(audited)
14	Paid up Equity Share Capital (Face value of 10 per share)		28500		28500		28500		28500		28500		28500
15	Paid up Debt Capital								88669		142864		77470
16	Reserves excluding Revaluation Reserve												702495
17	Debenture Redemption Reserve												35013
18	Earnings Per Share (EPS)		1.64		8.13		0.84		9.77		4.85		16.68
	Basic and diluted earnings per share before and after Extraordinary Items ( )
19	Debt Equity Ratio								0.11		0.20		0.10
20	Debt Service Coverage Ratio (DSCR)#								23.96		8.63		1.90
21	Interest Service Coverage Ratio (ISCR)##								23.96		9.47		11.55

# 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 STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2013

Part II

	For the quarter ended									For the half year ended						For the year ended
A) Particulars of Shareholding	September 30 2013			June 30 2013			September 30 2012			September 30 2013			September 30 2012			March 31 2013
1. Public shareholding
a. Number of shares		71266785			58198109			51480457			71266785			51480457			53803177
b. Percentage of shareholding		25.01	%		20.42	%		18.06	%		25.01	%		18.06	%		18.88	%
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)		4.68	%		4.64	%		4.61	%		4.68	%		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		203733215			205333215			207028873			203733215			207028873			207028873
-  Percentage of Shares (as a % of the total shareholding of promoters and promoter group)		95.32	%		95.36	%		95.39	%		95.32	%		95.39	%		95.39	%
-  Percentage of Shares (as a % of the total share capital of the Company)		71.48	%		72.05	%		72.64	%		71.48	%		72.64	%		72.64	%
3. Shares held by custodian and against which Depository Receipts have been issued-
(I) Promoters and promoters group		—			—			—			—			—			—
(II) Public		—			11468676			16490670			—			16490670			14167950

Particulars	Quarter ended on 30.09.2013
B) Investor complaints
Pending at the beginning of the quarter		Nil
Received during the quarter		3
Disposed off during the quarter		3
Remaining unresolved at the end of the quarter		Nil

( in Lakhs)

B. STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2013

Part I

	Particulars	Consolidated
		For the quarter ended							For the half year ended					For the year ended
		September 30 2013		June 30 2013		September 30 2012			September 30 2013		September 30 2012			March 31 2013
		(unaudited)		(unaudited)		(unaudited)			(unaudited)		(unaudited)			(audited)
1	Income from Operations		495261		449798		427099			945059		837838			1721295
2	Expenses
	a. Network Costs		268409		247784		241429			516193		469250			969720
	b. Employee benefits		58630		60221		63798			118851		123837			241146
	c. Depreciation and Amortisation		54311		50372		53072			104683		105973			202705
	d. Other		84584		76638		77937			161222		147540			304458
	e. Total Expenditure (2a to 2d)		465934		435015		436236			900949		846600			1718029
3	Profit / (Loss) from Operations before Other Income, Finance costs and Exceptional Items (1 - 2)		29327		14783		(9137	)		44110		(8762	)		3266
4	Other Income / (Expense), Net		3934		2636		3178			6570		14503			22659
5	Profit / (Loss) from Ordinary Activities before Finance costs and Exceptional Items (3 + 4)		33261		17419		(5959	)		50680		5741			25925
6	Finance Costs		20100		16629		21122			36729		41750			79414
7	Profit / (Loss) from Ordinary Activities after Finance costs but before Exceptional Items (5 - 6)		13161		790		(27081	)		13951		(36009	)		(53489	)
8	Exceptional Items gain/(loss)		—		21622		—			21622		—			10418
9	Profit / (Loss) from Ordinary Activities before Tax (7+8)		13161		22412		(27081	)		35573		(36009	)		(43071	)
10	Tax Expense		5112		12984		1886			18096		7166			22020
11	Net Profit / (Loss) from Ordinary Activities after Tax (9 - 10)		8049		9428		(28967	)		17477		(43175	)		(65091	)
12	Extraordinary Items (net of Tax Expense)		—		—		—			—		—			—
13	Net Profit / (Loss) for the period (11 - 12)		8049		9428		(28967	)		17477		(43175	)		(65091	)
14	Share in Profit / (Loss) of Associates		28		75		12			103		24			25

( in Lakhs)

B. STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2013

Part I

	Particulars	Consolidated
		For the quarter ended									For the half year ended						For the year ended
		September 30 2013			June 30 2013			September 30 2012			September 30 2013			September 30 2012			March 31 2013
		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(audited)
15	Minority Interest		(41	)		(51	)		1531			(92	)		1441			2735
16	Net Profit / (Loss) after taxes, minority interest and share of profit/(loss) of associates (13+14+15)		8036			9452			(27424	)		17488			(41710	)		(62331	)
17	Paid up Equity Share Capital (Face value of  10 per share)		28500			28500			28500			28500			28500			28500
18	Reserves excluding Revaluation Reserve																	93340
19	Debenture Redemption Reserve																	35013
20	Earnings Per Share (EPS) Basic and diluted earnings per share before and after Extraordinary Items ( )		2.82			3.32			(9.62	)		6.14			(14.63	)		(21.87	)

C. Standalone Business Segment Information:

( in Lakhs)

	Standalone
	For the quarter ended									For the half year ended						For the year ended
Particulars	September 30 2013			June 30 2013			September 30 2012			September 30 2013			September 30 2012			March 31 2013
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(audited)
Income from Operations
Global Voice Solutions		31986			29856			29806			61842			61963			119311
Global Data and Managed Services		89937			84209			79638			174146			155703			322301
Total		121923			114065			109444			235988			217666			441612
Segment result
Global Voice Solutions		(3136	)		(3604	)		(3680	)		(6740	)		(7318	)		(14423	)
Global Data and Managed Services		70986			67306			60215			138292			117746			251273
Total		67850			63702			56535			131552			110428			236850
Less :
(i) Finance Cost		1577			1586			3357			3163			6649			11969
(ii) Other Unallocable Expenses (net)*		58028			27390			49498			85418			83740			159212
Profit / (Loss) before Taxes		8245			34726			3680			42971			20039			65669
*Includes Exceptional Items		(13489	)		21622			—			8133			—			15835

D. Consolidated Business Segment Information:

( in Lakhs)

	Consolidated
	For the quarter ended									For the half year ended						For the year ended
Particulars	September 30 2013			June 30 2013			September 30 2012			September 30 2013			September 30 2012			March 31 2013
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(audited)
Income from Operations
Global Voice Solutions		242904			222307			211376			465211			416224			856469
Global Data and Managed Services		198968			179577			167027			378545			326823			675343
South Africa Operations		53194			47739			48401			100933			94261			188548
Others		195			175			295			370			530			935
Total		495261			449798			427099			945059			837838			1721295
Segment result
Global Voice Solutions		42907			40569			32030			83476			67982			140359
Global Data and Managed Services		130321			114384			110224			244705			217128			439543
South Africa Operations		9718			5812			2020			15530			2749			5148
Others		(187	)		(177	)		(25	)		(364	)		(394	)		(3544	)
Total		182759			160588			144249			343347			287465			581506
Less :
(i) Finance Costs		20100			16629			21122			36729			41750			79414
(ii) Other Unallocable Expenses (net)*		149498			121547			150208			271045			281724			545163
Profit / (Loss) before Taxes		13161			22412			(27081	)		35573			(36009	)		(43071	)
* Includes Exceptional Items		—			21622			—			21622			—			10418

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 signalling 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 comprise 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.

E. Unaudited Statement of Standalone Assets and Liabilities as at September 30, 2013

( in Lakhs)

	Standalone
Particulars	As at September 30 2013		As at March 31 2013
	(unaudited)		(audited)
A      EQUITY AND LIABILITIES
1.      Shareholders’ funds
(a) Share Capital		28500		28500
(b) Reserves and Surplus		752030		723142
Sub-total - Shareholders’ funds		780530		751642
2.      Non-current liabilities
(a) Long-term borrowings		62500		62500
(b) Deferred tax liabilities (Net)		—		—
(c) Other Long term liabilities		42782		39156
(d) Long-term provisions		11852		12216
Sub-total - Non-current liabilities		117134		113872
3.      Current liabilities
(a) Short-term borrowings		26169		14970
(b) Trade payables		120517		124830
(c) Other current liabilities		48160		53717
(d) Short-term provisions		1305		11052
Sub-total - Current liabilities		196151		204569
TOTAL - EQUITY AND LIABILITIES		1093815		1070083
B      ASSETS
1.      Non-current assets
(a) Fixed assets		492906		500811
(b) Non-current investments		199860		203051
(c) Deferred tax assets (Net)		6318		871
(d) Long-term loans and advances		184027		168302
(e) Other non-current assets		808		808
Sub-total - Non-current assets		883919		873843
2.      Current assets
(a) Current investments		62005		46241
(b) Inventories - stores and spares		513		420
(c) Trade receivables		87436		86102
(d) Cash and bank balances		17627		32862
(e) Short-term loans and advances		40159		28585
(f) Other current assets		2156		2030
Sub-total - Current assets		209896		196240
TOTAL - ASSETS		1093815		1070083

Note:

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

F. Unaudited Statement of Consolidated Assets and Liabilities as at September 30, 2013

( in Lakhs)

	Consolidated
Particulars	As at September 30 2013		As at March 31 2013
	(unaudited)		(audited)
A      EQUITY AND LIABILITIES
1.      Shareholders’ funds
(a) Share Capital		28500		28500
(b) Reserves and Surplus		47071		113987
Sub-total - Shareholders’ funds		75571		142487
2.      Minority Interest		558		791
3.      Non-current liabilities
(a) Long-term borrowings		700138		919458
(b) Deferred tax liabilities (Net)		4001		2870
(c) Other Long term liabilities		436742		393297
(d) Long-term provisions		25210		23549
Sub-total - Non-current liabilities		1166091		1339174
4.      Current liabilities
(a) Short-term borrowings		157600		108040
(b) Trade payables		417365		429576
(c) Other current liabilities		636892		330510
(d) Short-term provisions		7607		16188
Sub-total - Current liabilities		1219464		884314
TOTAL - EQUITY AND LIABILITIES		2461684		2366766
B      ASSETS
1.      Non-current assets
(a) Fixed assets
(i) Tangible assets		1422486		1329151
(ii) Intangible assets		54497		54695
(iii) Capital work-in-progress		91792		76342
(iv) Intangible assets under development		286		724
(b) Goodwill on consolidation		84150		87294
(c) Non-current investments		75492		75321
(d) Deferred tax assets (Net)		6643		1109
(e) Long-term loans and advances		218221		211929
(f) Other non-current assets		1193		808
Sub-total - Non-current assets		1954760		1837373
2.      Current assets
(a) Current investments		63666		56841
(b) Inventories - stores and spares		5626		2720
(c) Trade receivables		279710		314323
(d) Cash and bank balances		73994		92330
(e) Short-term loans and advances		78858		60374
(f) Other current assets		5070		2805
Sub-total - Current assets		506924		529393
TOTAL - ASSETS		2461684		2366766

Note:

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

Notes:

1. The above Standalone and Consolidated results of the Company for the quarter and half year ended September 30, 2013 have been subjected to a limited review by the statutory auditors, recommended by the audit committee and taken on record and approved by the Board of Directors at their meeting held on October 29, 2013.

2. Other Income includes:

Foreign Exchange Fluctuation

( in Lakhs)

	For the quarter ended							For the half year ended						For the year ended
Net foreign exchange gain/(loss)	September 2013		June 2013			September 2012		September 2013			September 2012			March 2013
	(unaudited)		(unaudited)			(unaudited)		(unaudited)			(unaudited)			(audited)
- Standalone		735		(1291	)		926		(556	)		1074			1543
- Consolidated		212		(1557	)		1833		(1345	)		(54	)		(1448	)

3. During the quarter ended September 30, 2013, VSNL SNOSPV Pte Ltd (SNOSPV), a wholly owned subsidiary of Tata Communications Limited, has entered into exclusive discussions with Vodacom Group Limited (Vodacom) to sell all of the issued share capital of Neotel, held directly or indirectly by SNOSPV. Discussions with Vodacom are in progress.

4. Results include exceptional items:

a. Based on the currently available information, the standalone financial statements for the quarter and half year ended September 30, 2013 includes an amount of 13489 lakhs relating to the provision towards diminution in carrying amount of investments and advances in Neotel.

b. For the quarter ended June 30, 2013 and half year ended September 30, 2013, an amount of 21622 lakhs towards Input credits against certain statutory obligations relating to earlier periods have been accounted for during the quarter ended June 30, 2013 on crystallization of the entitlements to such credits.

c. For the financial year ended March 31, 2013, in respect of the Standalone financial statements, Employee cost optimization expenses amounting to 3127 lakhs and gain on sale of fixed asset of  18962 lakhs and in respect of Consolidated financials, employee cost optimization expenses amounting to 8544 lakhs and gain on sale of fixed asset of 18962 lakhs.

5. The Consolidated Other Current Liabilities as on September 30, 2013 includes an amount of 271997 lakhs relating to the South Africa Operations which has been reclassified from Long-term borrowings to Other current liabilities upon becoming payable within 12 months, pursuant to the agreements between Neotel and its lenders.

6. During the year 2013, the Company has submitted to the Bombay and the National Stock Exchange the proposed “Scheme of Arrangement” between the Company and the S&A Internet Services Private Limited (“the Subsidiary Company”), for transfer of the IDC division (Colocation Service division of the Company) on going concern basis to the Subsidiary Company. The Scheme has been approved by the Board of Directors of the Company at its meeting held on March 1, 2013, by the shareholders at its meeting held on August 22, 2013 and is subject to the approval of the Bombay High Court. The financial results do not include any adjustments that may arise on implementation of the Scheme.

7. The previous period’s figures have been rearranged wherever necessary to make them comparable with the current period’s figures.

For TATA COMMUNICATIONS LIMITED

VINOD KUMAR

MANAGING DIRECTOR &

GROUP CEO

Place : Mumbai.

Date : October 29, 2013