RCom Q4 Net Slips 22.4% At Rs 177 Crore; Scrip Falls Over 2%

Telecom operator Reliance Communications Ltd (RCom) has reported a fall of 22.4 per cent in its consolidated net profit after taxes (PAT) at Rs 177 crore for the January-March quarter of FY16, led by decline in revenue from voice and data services.

"The consolidated PAT of the Anil Ambani led company stood at Rs 228 crore during the same period a year ago," said Reliance Communications Ltd in a filing to the Bombay Stock Exchange.

RCom Q4 Net Slips 22.4% At Rs 177 Crore; Scrip Falls Over 2%
Reliance Communications: Quotes, News
BSE 47.90BSE Quote0.75 (1.57%)
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Consolidated total income from operations of the country's fourth-biggest mobile carrier witnessed a marginal decline of 1.4 per cent at Rs 5,617 crore during Q4 FY 2015-16, as compared to Rs 5,694 crore during the same period last year.

For the full year, RCom's consolidated net profit shrank to Rs 681 crore from Rs 714 crore in the corresponding period a year ago. While, its total income grew to Rs 22,113 crore, from Rs 22,098 crore a year ago.

In last six months, RCom has undertaken a series of deals to sell its non-core assets and cut debt, including a spectrum swap deal.

In December, the debt-laden company had also signed a non-binding pact to sell its mobile phone masts business to a group of companies led by buyout firm TPG Capital Management LP, but the final terms of that deal are yet to be announced.

Meanwhile, shares of the company were trading at Rs 47.65 apiece, down 2.76 per cent, from previous close on BSE at 10:51 hours.

Read more about: reliance communications
Story first published: Tuesday, May 31, 2016, 12:30 [IST]
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