Reliance Communications, the nation’s second largest wireless telephony company, on Saturday announced 51% decline in quarterly profit due to forex loss.
RCOM, part of the Reliance Anil Dhirubhai Ambani group, has posted net profit of Rs 740 crore in the September quarter, compared to Rs 1,531 crore in the year-ago period. The forex loss of Rs 283 crore forced the company, which posted a marginal 1% rise in revenue to Rs 5,703 crore, to post a sharp decline in profit.
The results were worse than the expectation. A survey of ETIG and four brokerage houses estimated RCOM’s net sales at Rs 6,356 crore and net profit at Rs 1,171 crore. However, the company would have posted a net profit of Rs 1023 crore, had there been no forex loss.
Continue reading RComm declares 51% decline in quarterly profit due to forex losses
India’s Reliance Communications (Rcom) has reported a more than halving in its fiscal second quarter profits to Rs. 740 crore ($154 million), compared to Rs 1,531 crore a year ago. The company said the drop was largely due to the costs of deploying its GSM network along with stronger competition in the market.
The net profit was also impacted by foreign exchange and derivative losses of Rs. 283 crore (US$59 million).
Revenues rose to Rs. 5,703 crore (US$1.2 billion) compared to Rs 5,645 crore in the corresponding quarter last year. EBITDA at Rs. 2,020 crore (US$420 million) compared to Rs 2,302 crore a year ago.
Continue reading RCom Quarterly Net Profit Halved
Anil Ambani group firms Reliance Communications and Reliance Power today restructured their respective promoter holdings through transfer of shares among group companies.
In a disclosure to the Bombay Stock Exchange, RComm said one of its promoters AAA Communication Pvt Ltd has transferred over 9.51 crore shares or 4.61 per cent stake through inter-group transactions to each of AAA Industries Pvt Ltd and ADA Enterprises and Venture Pvt Ltd.
Continue reading Reliance Power, RComm rearrange promoter holdings
Reliance ended Q1 with 72.7m mobile customers. This compares with 61.3m three months earlier and 45.8m at the end of the fiscal year 07/08, gains of 10.3m and 26.9m respectively. The company claims to be â€œIndia’s largest integrated communications service providerâ€ but the claim has something of a hollow ring when its numbers are set alongside those of Bharti Airtel. Reliance may be integrated, for what that’s worth, but it just isn’t as big as Bharti, either by revenues or customers. Its customer base of 77m (including Broadband) is less than Bharti’s 96.7m, while its revenues – INR61.2bn in this latest quarter â€“ fall well short of Bharti’s INR98.2m.
Continue reading Reliance Communications – winning Market Share, but at a Price
Reliance Communications (RCom) has posted a 3.25 per cent dip in net profit to Rs 1,454.3 crore on a consolidated basis for the quarter ended March 31, 2009, after adjustment of the shares of minority interests and associates. The Anil Ambani group company has also provided a capacity expansion indication of Rs 10,000 crore for the current financial year (FY10).
Continue reading Reliance Communications net profit dropped 3.25 per cent
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.
Continue reading Reliance Communications net profit slips 3.3% in fourth-quarter
Reliance Communications Limited (RCOM) today announced its unaudited consolidated financial results for the year ended March 31, 2009.
Highlights of the financial performance for the year are:
– Profit of Rs59.08bn (US$1.16bn), higher by 9.4% compared to Net Profit of Rs54.01bn (US$1.35bn) in the last year.
– EBITDA at Rs92.88bn (US$1.83bn), growth of 13.3%. EBITDA margin stable at 40.5%with strong contributions across all businesses â€“ Wireless, Global and Enterprise
Continue reading Reliance Communication unaudited consolidated Q4 net profit Rs59.08bn
Motilal Oswal has come out with its earning estimates on Telecom sector for the quarter ended March 2009. According to the research firm, Reliance Communications‘ sales for the quarter ended March 2009 are expected to do up by 2.6% to Rs 6002.3 crore on QoQ basis.
Continue reading Motilal Oswal expects Reliance Comm Q4 net profit at Rs 1409.1 cr
Reliance Communications Ltd., Indiaâ€™s second-largest mobile-phone operator, reported third-quarter profit growth slowed, missing analyst estimates, as new subscribers spoke for fewer minutes and chose cheaper plans.
Continue reading Reliance Comm Q3 Results: Profit up 3%, Misses Estimates
India’s Reliance Communications Ltd. said its April-June first quarter net profit rose nearly 24 percent on the back of a similar rise in revenues. Continue reading India’s Reliance Communications Q1 net rises 24 pct on higher revenues UPDATE