- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Reliance Comm net surges to Rs 702 cr in Q2
Reliance Communications on Monday posted a net profit of Rs 702 crore in the July-September quarter on a 40 per cent increase in turnover.
Updated : Sep 14, 2017, 03:54 PM IST
TRENDING NOW
)
AR Rahman, Saira Banu's daughter Raheema opens up on parents' divorce being linked to Mohini Dey: 'Always remember...'
)
Riddhima Kapoor Sahni reveals Rishi Kapoor's last two wishes: 'He wanted to see Ranbir Kapoor getting...'
)
Sana Khan, former Bigg Boss contestant, actress announces 2nd pregnancy with Anas Saiyad: 'Only Allah has power to..'
)
'Good to be back': After breaking up with Malaika Arora, Arjun Kapoor reunites with his 'partner-in-crime after ages'
)
'Your dance lightens up...': Little girl's dance on 'Tere Bina na Guzara E' steals hearts online, WATCH viral video
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan tells Amitabh Bachchan: 'I hope people don't...'
)
This Pakistani Influencer's private video leaked online, days after Minahil Malik and Insha Rehman's clips
)
After breakup with Malaika Arora, Arjun Kapoor dedicates his new tattoo to this special person in his life
)
32-year-old superstar forcibly kissed 15-year-old co-star; left her traumatised, crying; later laughed about it saying..
)
Shillong Teer Results TODAY November 22, 2024 Live Updates: Check winning numbers here
)
Amid Aishwarya Rai-Abhishek Bachchan divorce rumours, Jaya Bachchan says 'not my daughter' in viral video
)
Telecom rules to change from January 1, Mukesh Ambani's Jio, Airtel, Vi, BSNL will be affected due to...
)
Gandii Baat, XXX actress Aabha Paul sets Instagram on fire with hot photos
)
Meet Mathira Khan, Pakistani influencer whose private video leaked after Minahil Malik, Imsha Rehman
)
Shweta Tiwari's wedding photos with Bigg Boss 13 contestant Vishal Aditya Singh go viral, here's the truth behind them
NEW DELHI: Matching the vibrancy of rival Bharti Airtel, Reliance Communications on Monday posted a net profit of Rs 702 crore in the July-September quarter on a 40 per cent increase in turnover, even as its Chairman Anil Ambani promised to deliver "unmatched value" to shareholders.
The market responded positively to the results of Reliance Communications, which had posted a net loss of Rs 19 crore in the year-ago quarter, and pushed the company's market capitalisation above the Rs 80,000 crore mark, closer to telecom leader Bharti Airtel's M-Cap of over Rs 100,000 crore.
Immediately after announcement of the results, Anil Ambani said: "Our unique fully integrated telecom operations differentiate us from mainly mobile operators and will deliver unmatched value to our two million shareholders.
"The Reliance Communications growth engine is poised to deliver accelerated profitability and even greater momentum in the years ahead".
The company added about 3.5 million subscribers during the quarter, which helped it earn a handsome net profit for the second quarter ended September 30, 2006.
Reliance Communications' revenues increased by 40 per cent at Rs 3,526 crore, a company spokesperson said.
The EBIDTA stood at Rs 1,353 crore in the second quarter, an increase of 216 per cent.
Reliance Communications recorded strong EBIDTA growth and margin expansion across all three businesses -- wireless, global and broadband.
The margins during this quarter got doubled to 38 per cent from 17 per cent recorded in the previous quarter.
The total wireless subscriber base of the company has crossed 27 million mark with additions of 3.5 million customers in this quarter against 1.6 million in the previous quarter.
About 95 per cent additions were recorded in the prepaid segment and the company claims to have a share of 21 per cent in the telecom market.
The wireless business' EBIDTA stood at Rs 929 crore in this quarter against Rs 874 crore in the previous quarter.
Its network coverage has expanded to over 6,000 cities and towns from 3,000 last year, the spokesperson said.
The company's has total assets of about Rs 28,000 crore with a net worth of Rs 12,000 crore and the net debt has declined by 16 per cent to Rs 2,000 crore.
Reliance Communications has a borrowing ability of over Rs 20,000 crore for the future capex.
