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Decline in voice business cuts Tata Communications revenue by 6.6% in Q4FY18

Tata Communications has reported a decline in consolidated revenue by 6.6% year-on-year to Rs 4008.6 crore in Q4FY18, citing a decline in voice business as the reason. Revenue in Q4FY17 was Rs 4293.8 crore. Overall, for the financial year 2018, revenue declined by 5.5% as compared to FY17. Through the year, fall in revenue was due to degrowth in total voice minutes and price compression, a decline in payment solutions business, and the impact of currency translation, the company said. In the quarter, EBITDA was Rs 555.5 crore, which marked a declined of 9.4% QoQ, the reason being upfront investment on new customer wins. However, as compared to same quarter last year (YoY), EBITDA was higher by 12%, due to growth in transformation business, payment solution business breaking even and due to the company’s cost optimization initiative. Capital expenditure (Capex)…

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