Tata Communications has reported a marginal increase of 3.5% YoY in its consolidated revenues for Q2FY19. In the quarter ended September 2018, revenues grew to Rs 4077 crore on the back of growing data services. Revenues in Q2FY18 was Rs 3937 crore. In the quarter, consolidated EBITDA was Rs 630 crore, which marked a growth of 7.4% QoQ, largely due to driving down costs and reduction of losses in Growth services. Compared to the same quarter last year (YoY), EBITDA was higher by 6%. Capital expenditure (Capex) for the quarter was $65 million as compared to $72 million in the last quarter. Tata Communications also acquired Netherlands–based Teleena, an IoT and mobile virtual network enabler (MVNE) company in October. It was already the largest stakeholder in Teleena with a 35% stake. After the acquisition, the number of devices ordered under IoT in India…
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