Reliance Communications Ltd., or RCOM, provider of CDMA and GSM services in India, reported its consolidated net profit for the fourth-quarter nearly doubled on lower costs.
Consolidated Results
The Navi Mumbai-based company's fourth-quarter-quarter consolidated net profit, after minority interest and share of profit of associates, nearly doubled to Rs.332 or Re.1.61 per share, compared with Rs.168 crore or Rs.0.82 per share reported in the corresponding quarter last year.
Its quarterly net income form operations fell by 37 percent to Rs.4,578 crore from the Rs.7,278 crore in the year-ago quarter, while "other operating income" was Rs.432 crore, compared with Rs.197 crore in the preceding-year quarter. "Other income" for the quarter was Rs.300 crore, compared with the Rs.423 crore for the corresponding period last year.
During the quarter, income from "Wireless" segment was Rs.4,505 crore, while that from "Global" amounted to Rs.2,440 crore. Income for the quarter from "Others" was Rs.270 crore.
On a consolidated basis, its fiscal year net profit fell by 31 percent to Rs.928 crore from the Rs.1,345 crore a year-ago. Total income, including other operating income and other income, declined by 12 percent to Rs.20,382 crore from the Rs.23,169 crore last year.
The company said it had over 20 million data customers and 2.3 million 3G active customers, which was the highest in the industry.
Revenue per minute was Re.0.44 per minute, which was stable for the last eight consecutive quarters amidst increasing competitive and over supply of minutes in market place, it said.
Stand-alone Results
The company fourth-quarter-quarter stand-alone net profit of Rs.804 or Rs.3.82 per share, compared with Rs.575 crore or Rs.2.67 per share reported in Q4FY11. Net profit and earnings per share rose by 40 percent and 43 percent, respectively. Total income, including other operating income and other income, stood at Rs.2,840 crore, compared with Rs.3,400 crore, reflecting a 16 percent drop.
For the full year, it posted a stand-alone net profit of Rs.156 crore, compared with a net loss of 758.00 crore for the year ended March 31 last year. Total income, including other operating income, increased by percent to Rs.11,863 crore from the Rs.13,282 crore in 2011.
The company's board recommended a dividend of five per cent or Re.0.25 per equity share of Rs.5 each for the fiscal year 2012.
At the BSE, Reliance Communications shares are being traded at Rs.66.90, up 1.98 percent from the previous close.
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