Reliance Communications Q3 net falls nearly 57 per cent to Rs480 crore
14 Feb 2011
Reliance Communications Ltd has reported a 56.66 per cent year-on-year decline in its consolidated net profit (after adjustment of share of minority interest and associates) of Rs480.27 crore in the third quarter of the current financial year (October-December 2010-11) against a net profit of Rs1,108.01 crore in the comparable quarter of the previous year.
Reliance Communications said, on a standalone basis, its profit rose 7.7 per cent to Rs480 crore ($107 million) against Rs446 crore ($99 million) in the previous year quarter.
EBDTA, on a standalone basis, was also marginally higher at Rs1,668 crore ($373 million) against Rs1,660 crore ($369 million) in the previous year quarter.
EBDTA margin increased to 33.3 per cent during the October-December 2010 quarter from 32.4 per cent in October-December 2009, the company said in its web site release.
Total income of the company during the quarter ended 31 December 2010 was down at Rs5,004.09 crore against Rs5,309.77 crore in the quarter ended 31 December 2009, unaudited results released by the company today showed.
Hit by lower call rates and rising costs from its heavy debt burden, Reliance Communications, India's second biggest mobile service provider, has seen its quarterly profits decline over the past five quarters.