Reliance Communications has posted a 43 per cent fall in net profit in third quarter ended December 31, 2012, impacted by high interest costs.

The country’s third largest operator has posted a third quarter net profit of Rs 105 crore on a consolidated basis, compared with Rs 186 crore recorded during the same period a year ago.

“The fall is due to an increase in financing charges, including the refinancing of FCCBs (Foreign Currency Convertible Bonds) and interest bearing loans,” said Reliance Communications President and Chief Executive Officer (Wireless Business) Gurdeep Singh.

RCom’s, controlled by billionaire Anil Ambani, total income rose 5 per cent to Rs 5,301 crore (Rs 5,055 crore).

“We have arrested the past several quarters of decline in revenues, and now we are on a growth path,” Singh added.

Its revenues per minute rose to 44 paise, wireless revenues increased by 4.7 per cent and wireless EBITDA rose 15 per cent on a year-on-year basis.

The company’s 3G customer base rose 27 per cent on a quarter-on-quarter basis, with it garnering over 6.1 million subscribers as of December 31. Its data subscriber base stood at 27.6 million as of the end of the quarter.

On the BSE, the company’s share closed up 0.63 per cent to Rs 88.10, up 0.23 per cent.

rajesh.kurup@thehindu.co.in

(This article was published on January 23, 2013)
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