RComm first quarter net profit down by 37.2% at Rs 157 crore

Anil Ambani promoted telecom firm RCom today reported 37.2% dip in consolidated net profit to Rs 157 crore for the first quarter ended in June 30.

Updated on: Aug 13, 2011, 20:44:01 IST

PTI | By HT Correspondent, Mumbai

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Anil Ambani promoted telecom firm RCom on Saturday reported 37.2% dip in consolidated net profit to Rs 157 crore for the first quarter ended in June 30.

Reliance Communications had posted Rs 250 crore profit for the same period in 2010-11.

Its net income from operations during April-June, 2011-12 was also down 4.3% to Rs 4,849 crore from Rs 5,069
crore posted during Q1 of FY'11, the company said in a filing to the Bombay Stock Exchange.

RComm said that during the quarter the company paid back loan of USD 500 million raised through foreign bonds and added that it is ready to pay future debt maturities including redemption of Foreign Currency Convertible Bond worth USD 1 billion due in March 2012.

As per data of the Telecom Regulatory Authority of India, RComm added 2.10 million new subscribers in June taking its
user base to 143.26 million. The company offers CDMA as well as GSM mobile phone services across the country.

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