Reliance Comm Q2 net drops 40% | business | Hindustan Times
Today in New Delhi, India
Dec 04, 2016-Sunday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Reliance Comm Q2 net drops 40%

business Updated: Nov 13, 2010 17:04 IST

Reuters
Highlight Story

Reliance Communications, India's second-biggest mobile phone operator, reported a 40% drop in quarterly net profit, after being squeezed by a call price war in the world's fastest-growing mobile market.

The Mumbai-based firm said consolidated net profit fell to 4.46 billion rupees ($100 million) for its fiscal second-quarter ended September, from 7.40 billion rupees in the year-ago quarter.

A Reuters poll of 11 brokerages had expected net profit of 4.09 billion rupees for the company.