Millennium Post

RCom rings in 86% Q3 profit rise

Telecom operator Reliance Communications on Friday reported an 86 per cent jump in consolidated net profit at Rs 201 crore for the third quarter ended December 31, 2014 helped by lower finance costs and higher margins in telecom services.

The company had posted a net profit of Rs 108 crore in the same quarter a year ago. "Our circle-specific Go-To-Market strategy and differentiated data offerings has helped us in acquiring good quality customers in post-paid and corporate segments. Our finance charges has reduced significantly by Rs 100 crore year-on-year basis," RCom Chief Executive Officer for Consumer Business Gurdeep Singh said. The net debt of the company reduced by about Rs 4,000 crore to Rs 36,767 crore at the end of December 2014 from Rs 40,762 crore it posted a year ago.

The company at the end of reported quarter had 3.14 crore Internet subscribers out of which 1.67 crore were 3G customers.
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