RCom Q2 net drops 43.5%

RCom Q2 net drops 43.5%

Anil Dhirubhai AmbaniWith this, the debt-ladden RCom has reported lower profits for the ninth straight quarter and the company’s total income during the quarter under review declined to Rs 5,040 crore versus Rs 5,118.0 crore for the quarter ended September 30, 2010.

Net sales of the company,  for the quarter have reduced to Rs 4,689 crore, down 5.71 per cent from Rs 4,973 crore in the same quarter a year ago.

The standalone results of RCom posted a net loss of Rs (99.0) crore for the quarter ended September 30, 2011 as compared to net loss of Rs (476.0) crore for the quarter ended September 30, 2010, while total income decreased from Rs 3090.0 crore for the quarter ended September 30, 2010 to Rs 2851.0 crore for the quarter ended September 30, 2011.

Wireless Revenue

The wireless revenue of Reliance Communications also grew 2 per cent at Rs 4,417 crore during the period under review against Rs 4,327 crore in the previous quarter.

The company said its wireless revenues were driven by growth of paid minutes and strong growth in the data business.

Reliance Communications also said it continues to be free cash flow positive. “RCom generated operational cash flow of Rs.1,605 crore in this quarter. Post payment of 3G auction fees and with peak capex behind us, this is the first full year of positive free cash flow for the company and this trend will continue in succeeding years,” the company said in a statement. 

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