Tulip Telecom announces Q1 FY12

By SiliconIndia   |   Thursday, 28 July 2011, 12:19 Hrs
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New Delhi: Tulip Telecom, the enterprise data services provider, has announced its financial results for the first quarter ending June 30, 2011. Tulip posted revenues of 653.9 crore and a net profit of 77.1 crore against Rs 64.2 crore in corresponding quarter for the previous fiscal, registering an increase of 20.2 percent. The company's net sales for the quarter stood at 653.9 crore against 525.2 crore for the corresponding quarter in the previous fiscal. The company posted a diluted EPS of Rs 4.75 up 20 percent over the previous fiscal.

The growth during the quarter was primarily lead by the end-to-end data services offering of the company through its extensive fibre network, further ensuring higher wallet share per customer. The company took significant strides forward in its international connectivity business by adding customers like HDFC Bank and Reckitt Benckiser. The continued focus on Managed Services offering has yielded substantial business traction for the company enabling the company to add customers from diverse sectors. The company further added Karur Vysya Bank, OICL, Matrix Cellular, and Reliance Life Insurance to its portfolio of customers during the quarter.

In a statement, Lt. Col HS Bedi, Chairman and Managing Director, Tulip Telecom, said, “In line with our vision, we are seeing a visible shift in our profile from being an Enterprise Connectivity provider to an integrated Enterprise Data Services player. The strategy to provide high quality data solutions and thereby maximize earnings from every customer by servicing their end-to-end connectivity needs is paying off. We are focusing on consolidating the management team with a view to reinforcing service delivery and customer satisfaction levels which we believe will not only enable customer stickiness in the longer run but will also enable us to cement our position as the leading player in Enterprise Data Services market over the next few years.”

Further adding on the operational performance, Sanjay Jain CEO, Tulip Telecom said “The efforts of the last few years have started to yield results and are reflected in the operational and financial performance. We are witnessing robust demand for fibre and we expect this momentum to continue in the future. Managed Services and Data Center segments are also witnessing significant traction. We have reported an improvement in operating margins which is a result of our focus on realigning the business model to enhance efficiency. We believe Tulip is at the beginning of a new phase and we aim to establish ourselves as the leading player in the Enterprise Data Services market in the years to come. We intend to achieve this by deeply mining customer relationships by offering end-to-end data solutions and having a large share of their wallet spend. We are already enthused by the progress so far and are confident of rapid scale up in the future.”

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