Tata Communications (formerly known as VSNL) on Tuesday posted a net profit of Rs 58.86 crore for the quarter ended March 31, down 63 per cent as compared to a year earlier.
The company had reported a net profit of Rs 159.5 crore for the fourth quarter ended March 31, 2007.
Total income has also decreased to Rs 885.45 crore for the quarter ended March 31 as against Rs 1,122.93 crore in the year-ago period, the company informed the Bombay Stock Exchange.
For the year ended March 31, the company reported a net profit of Rs 304.46 crore down 40.9 per cent as compared to Rs 515.3 crore last year.
Total income also decreased to Rs 3,449.34 crore for the year ended March 31 from Rs 3,935.51 crore a year ago.
Besides, the group posted a consolidated net profit of Rs 10.3 crore for the FY 2007-08 as against Rs 15.4 crore in the previous year.
The total income of the group dropped to Rs 8,526.53 crore in FY 2007-08 as against Rs 8,849.46 crore a year ago.