Reliance Communications Q3 net profit falls at Rs 531 crore

NEW DELHI: The Anil Ambani-controlled company, Reliance Communications (RCom)  reported consolidated net loss of Rs 531 crore for October-December 2016.

A year ago, the telecom operator had posted net profit of Rs 303 crore in the same period a year ago.

"Consolidated Revenue & EBITDA: RCom Q3 revenue at Rs. 4,922 crore, down 4.3% from Rs. 5,142 crore in Q2. Q3 EBITDA at Rs. 1206 crore, down 21.8% from Rs. 1,542 crore in Q2," the company said in a statement.

"Net Loss at Rs. 531 crore: The company suffered net loss of Rs. 531 crore during the quarter primarily on account of the following reasons," it said.

This was the first full quarter after Company’s complete shutdown of its profitable CDMA operations.

There was an increase in amortisation and interest expense aggregating Rs. 278 crore on account of capitalisation of 850 MHz spectrum liberalisation fee.

"Long-term benefits from access to Reliance Jio’s nationwide 4G LTE network: RCOM expects significant long-term benefits from its unique access to Reliance Jio's extensive and state-of-the-art 4G LTE network at minimal capex and opex. It enables RCom to provide differentiated and best-in-class 4G LTE services to its valued subscribers," it siad.

"India Operations Revenue & EBITDA: Q3 revenue at Rs. 4,267 crore, down 4.9% from Rs. 4,488 crore in Q2. Q3 EBITDA at Rs. 957 crore, down 26% from Rs. 1,297 crore in Q2," a statement said.

"Global Operations Revenue & EBITDA: Q3 Revenues at Rs. 1,132 crore, up 4.0% from Rs. 1,089 crore in Q2. Q3 EBITDA at Rs. 249 crore, up 1.7% from Rs. 245 crore in Q2," the company said.