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RCom Q4 net up nearly three-fold to R303 crore [Financial Express (India)](Financial Express (India) Via Acquire Media NewsEdge) Reliance Communications (RCom), India's third-largest telecom company by subscribers, on Friday reported a near three-fold increase in net profit sequentially at R303 crore for the January-March quarter over the R105 crore in the preceding quarter. With this, the Anil Ambani promoted-company beat analysts' estimates of R135 crore, taking investors by surprise. The profit was driven by a five-fold rise in other income, primarily related to the firm's direct-to-home business. Other income rose to R826 crore during the quarter, the company said in a statement. RCom saw flat total income at R5,130 crore for the quarter, from R5,136 crore in the quarter ended December 31, 2012. With this, RCom closed FY13 with a net profit of R744 crore, down 25% from the previous year. Its total income rose 4.4% to R20,561 crore for the full year. The telco's revenue per minute stood constant at 44 paise during the quarter. As on March 31, the company's debt stood at R32,168 crore. On Friday, the company also said it has made a full payment of a loan of over R2,700 crore that was taken from a group of international banks in 2007. Last month, RCom signed an R1,200-crore infrastructure sharing pact with Reliance Jio wherein the latter would use its 120,000 km optic fibre for carrying inter-city data traffic. RCom has also partnered with telecom carrier Aircel for a roaming agreement, under which the companies will share towers for better network for 2G GSM services in eight circles. RCom shares closed up 0.5% at R110.3 on Friday on the Bombay Stock Exchange. The shares have gained 73% of their value since April 2, 2013, when the company signed a deal with Reliance Jio. Copyright 2013 The Indian Express Online Media Pvt. Ltd., distributed by Contify.com Credit: fe Bureau (c) 2013 The Indian Express Online Media Pvt. Ltd., distributed by Contify.com |