RCom net dips 3.2% | business | Hindustan Times
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RCom net dips 3.2%

business Updated: Apr 30, 2009 20:33 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Even as it leaned on other income for profits support, Reliance Communications (RCom) posted 3.2 per cent dip in its net profit for the quarter ended March 31, 2009 over the same quarter in the previous year.

Indicating a tight last quarter, the company declared a net profit of Rs 1,503 crore on total revenues of Rs 6,124 crore, up 13.2 per cent as compared to the same quarter a year ago. Its other income rose 4.7 times to Rs 318 crore.

But for the full year, the company’s turnover raced ahead at over 20 per cent to Rs 22,941 crore, though its bottomline followed at a slower 9.4 per cent rate to Rs 5,098 crore. The company’s other income almost trebled to Rs 706 crore.

The topline growth came from the launch of two new services.

RCom launched its GSM services nationally, in January 2009, becoming the first operator to offer both GSM and CDMA services. Within the two months of launch it managed to get more than 11 million subscribers.

The other new launch was of its DTH service, Big TV, in December 2008, which has 1.4 million subscribers.

“RCom has completed the world’s largest network roll-out in FY2009 ahead of schedule and at a very competitive cost which is approx 35 per cent lower than original guidance,” said Anil Dhirubhai Ambani, chairman, RComm.