Anil Ambani controlled Reliance Communications has reported a 33.3 per cent fall in net profit for the first quarter ended June 30, 2013.
Net profit for the period stood at Rs 108 crore as against Rs 162 crore recorded in the same quarter a year ago. On a sequential basis, net profit went up marginally by 2.8 per cent.
Revenues for the quarter were flat at Rs 5,315 crore (Rs 5,264 crore)
For the Mumbai-headquartered company, revenue per minute (RPM) increased by four per cent sequentially to 45.7 paise.
“We have significantly improved RPM with tariff hikes and strong focus on paid and profitable minutes,” the company said in a press statement.
Ahead of the results, the company scrip was down by 5.87 per cent on the Bombay Stock Exchange, to close at Rs 131.4