Online BusinessRCom Q1 net profit rises 8.3% to Rs 1,637 cr
Telecom major Reliance Communications (RCom) has posted a consolidated net profit of Rs 1,637 crore for first quarter ended June 30, 2009, an increase of 8.3 per cent, compared with a net profit of Rs 1,512 crore recorded during the same period of previous financial year.
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The net profit is after adjustment of share of minority interest and associates, the company said in a release here today.
The company’s total income rose 15.5 per cent to Rs 6145.18 crore during the quarter under review, as against Rs 5,322.17 crore recorded during same period a year ago.
RCom’s EBITDA rose 9 per cent to Rs 2,453 crore, while EBITDA margin was stable at 40 per cent, it said.
The company’s market share increased to 23 per cent from the earlier 18 per cent, following its GSM launch
Commenting on the results, RCom Chairman Anil Ambani said: “Successful commercial launch of nationwide GSM services and other new initiatives across all our businesses to drive profitable and sustainable growth at Reliance Communications.”
RCom’s major corporate developments for the quarter included a Rs 10,000 crore telecom infrastructure sharing agreement with Etisalat DB, joint venture with Kribhco for a rural foray and the company’s joint venture with Alcatel-Lucent completing one year of operations.