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Reliance Comm posts Rs 702-cr net in Q2

Our Bureau

Revenues for the quarter grew 40 pc

Mumbai , Oct. 30

Reliance Communications has reported a net profit of Rs 702 crore for the second quarter of the current fiscal, as against a net loss of Rs 19 crore in the corresponding year-ago quarter.

Revenues for the quarter at Rs 3,526 crore grew 40 per cent from a year ago (Rs 2,522 crore).

Reliance Communications' overall EBITDA margin expanded to 38 per cent, up from 17 per cent, said a statement from the company. EBITDA growth was across all its business — wireless, global and broadband, it aded.

Wireless subscribers at 2.6 crore brought in revenues of Rs 1,778 crore, 40 per cent higher than year-on-year.

The segment reported EBITDA of Rs 929 crore (Rs 510) crore, which was 44.7 per cent higher from a year ago. Revenue per minute was reported at 77 paise.

Capex for the wireless business during the quarter amounted to Rs 1,499 crore.

EBITDA from Reliance Communications' global business, at Rs 320 crore, grew by183 per cent; EBITDA margins increased from 9 per cent to 24.3 per cent.

The company's broadband business achieved a revenue growth of 201 per cent, reporting an EBITDA margin of 44.8 per cent, as against 16.7 per cent a year ago.

Broadband access lines increased to 4.25 lakh, up from 3.22 lakh.

Reliance Communications' net debt declined to Rs 2,057 crore sliding 16 per cent sequentially, said a statement from the company.

On a standalone basis, RCOM reported a net profit of Rs 496.5 crore for the quarter and revenues of Rs 2,823 crore.

The company's shares gained by Rs 8.85 or 2.3 per cent on Monday on BSE, to close at Rs 393.55.

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