Tata Communications has announced fresh investment of US$450 million or about Rs 2,250 crore in new product areas. Following the announcement of its third
quarter results – the company reported a consolidated loss of Rs 153.06 crore for the third quarter ended December 31, 2011 against a net loss of Rs 181.38 crore during the same period last fiscal – Managing Director and CEO Vinod Kumar said the company would be providing new investment in cloud computing, mobile broadband, video telepresence, submarine cables and data centre projects.
“We are very pleased to report a healthy improvement i the operating performance of the business. Global voice has demonstrated ontinued improvement in volumes and revenues. The company’s global data business is scaling up as planned,” he said. “Over the last several years, we have worked towards changing our business mix towards data and managed services and enterprise segment. Having achieved this shift, it is our intention to grow all our business segments faster than the growth in respective markets,” he added.
Towards the end of last year, Tata Communications announced its’ ambitious five-year plan: to almost treble its data centre capacity to one million sq ft from the current 400,000 sq ft. Tata Communications has already spent Rs 1,000 crore in the last three years – to build the current capacity.