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Reliance Communications reported a 98 per cent jump in the fourth quarter net profit at Rs 332 crore compared with Rs 168 crore in the year-ago period.
However, in the year ended March 31, 2012, the telecom service provider reported a 31 per cent drop in net profit at Rs 928 crore compared with Rs 1,345 crore in the year-ago period.
In the year ended March 31, 2012, RCom's net income increased to Rs 22,431 crore from Rs 19,677 crore in the same period last year.
The net income from operations for the quarter and year ended March 31, 2011, included a one-time adjustment of Rs 2,545 crore consequent upon change of accounting treatment in respect of Indefeasible Rights of Use. Hence, the figures are not comparable with those of the quarter and year ending March 31, 2012, said a statement from the company.
A break-up of the segment revenue during the reporting quarter shows that growth in wireless business was flat at Rs 4,505 crore (Rs 4,453 crore in Q4FY2011); and revenues from GEBU (Global Enterprise Business Unit) was down 50 per cent to Rs 2,440 crore (Rs 4,912 crore). On Friday, RCom announced a 61 per cent cut in its 3G tariffs to meet competition from Airtel and Idea.
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