Reliance Communications' Q2 net profit falls nearly 60 per cent
09 Nov 2012
Reliance Communications' (RCom) net profit fell nearly 60 per cent in second quarter ended 30 September, impacted by a rise in interest costs and the payout for third generation spectrum.
The Anil Ambani group company posted a net profit of R102 crore during the quarter under review, compared with a net profit of Rs 252crore recorded during the same quarter in the previous financial year.
The net profit performance was below analysts' estimates of Rs160 crore and was due to rise of interest charges that shot up by 161 per cent to Rs593 crore.
During the quarter under review, the company's total income from operations rose 4.98 per cent to Rs5,031 crore, as against Rs4,792 crore registered during the corresponding period a year ago.
During the quarter, RCom had raised pre-paid tariffs by 25 per cent across GSM and CDMA platforms.
RCom's consolidated revenue rose 3.2 per cent to Rs5,202 crore from Rs5,040 crore during the same period a year ago. The company had posted a EBIDTA of Rs1,638 crore, while EBITDA margin stood at 31.5 per cent.
