Tata Communications said Wednesday its enterprise business is growing at 30 percent every year. The company also said it will continue to invest in data business to spur and expand growth. 

"Our data business continues to grow very strongly across geographies and segments especially with our new services. Our enterprise business growing 30 percent per year," Tata Communications Managing Director and Group CEO Vinod Kumar told reporters in New Delhi, as reported by PTI. 

For the nine-month period ended December 2015, the company's revenues from data and managed services grew 16 percent to Rs 7,861.61 crore from Rs 6,772.72 crore during the year-ago period.

For the December quarter, its data and managed services business contributed Rs 2,723.30 crore, a growth of 16.74 percent from Rs 2,332.67 crore for the corresponding quarter last fiscal, according to the company's regulatory filing.

"Enterprise and Next-gen customers are leading growth. 9M FY16 Enterprise revenues are up 21% Y-o-Y. Seeing early and promising signs of growth recovery in carrier / service provider segment," the company had said in a presentation post the declaration of the third quarter results last month.

The company's capital expenditure of $230 million was predominantly in data business and strategic projects accounted for 87 percent in the first nine months of the current fiscal.

Tata Communications' global network includes infrastructure and has one of the largest submarine cable networks and a Tier-1 IP network with connectivity to more than 240 countries and territories, as well as nearly one million square feet of data centre space worldwide. The company provides services to telecom operators in various countries by connecting their local network with global telecom network, PTI said.

Tata Communications was in the news recently for failing to sell its stake in its South African start-up, Neotel, to Vodafone's arm, Vodacom, "due to regulatory complexities." Neotel is South Africa's largest fixed line telephone service provide in which Tata Communications holds about 68 percent stake.

The South African business is part of the three business segments of the company, the other two being voice solutions and data services. The agreement to sell it was first signed in May 2014 for Rs 3,200 crore. 

On Thursday, Tata Communications stock closed at Rs 359.15, up 1.71 percent from its previous close.