Neotel to Add 50,000 Customers by Next Year, Business Day Says

Neotel Ltd., the South African unit of India’s Tata Communications Ltd. (TCOM), plans to add 50,000 customers by the end of its 2013 fiscal year and will spend 500 million rand ($60 million) expanding its infrastructure this year, Business Day reported, citing Chief Executive Officer Sunil Joshi.

The company reported “positive” earnings before interest, tax, depreciation and amortization for the year through March for the first time since its introduction five years ago, the Johannesburg-based newspaper reported.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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