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Reliance Communications net profit slips 3.3% in fourth-quarter
Reliance Communications Ltd. posted a 3.3% slip in fourth-quarter consolidated net profit on a sharp decline in average revenue per user and promotional offers.
Net profit at the company — India’s second-largest mobile-service provider by subscribers — fell to 14.54 billion rupees (291.4 million) in the January-March quarter from 15.03 billion rupees a year earlier.
Net sales rose 12% to 55.23 billion rupees from 49.48 billion rupees a year earlier, coming in below analysts’ expectations.
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Reliance security officials has given clean chit in Borge case
The Railway Police investigating the death of Bharat Borge has given a clean chit to the top three Reliance security officials who had reportedly met Borge on April 27.
The police on Thursday recorded statements of ADAG security official and former Maharashtra DGP K K Kashyap, two of his colleagues and air works’ air wing commander Pradeep Chawla.
“They had gone there to do their work and Bogre was doing his. They commended him for detecting the pebbles and mud and went away,†Assistant commissioner of police, Prakash Sawant told reporters.
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