Reliance Comm posts Rs.157 crore Q1 profit

August 13th, 2011 - 9:12 pm ICT by IANS  

Mumbai, Aug 13 (IANS) Reliance Communications, a part of the Anil Ambani-led Reliance Group, said Saturday its net profit declined to Rs.157 crore ($35 million) in the first quarter of 2011-12 as compared to Rs.250 crore during the same period last year.

The company’s total income declined to Rs.2,854 crore during the quarter under review as compared to Rs.3,186 crore in the corresponding quarter of last year.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) stand at Rs.1,602 crore ($358 million) in April-June quarter.

Reliance Communications’ EBITDA margin, the company’s operating profitability, was at 32.4 percent, amongst the highest in the industry with strong contribution from both wireless and global enterprise business unit (GEBU) businesses, the company said in a statement.

EBITDA from wireless business rose by 2.1 percent to Rs.1,173 crore in the quarter ended June 30 as compared to Rs.1,149 crore during the same quarter last year.

During the April-June quarter, the company redeemed foreign currency convertible bond of $500 million. The company is “fully geared up to repay the future debt maturities, including redemption of foreign currency convertible bond worth about $1 billion due in March 2012″, the statement said.

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