R-Com Q4 net rises 10% to Rs 1,220 crore
Press Trust of India, May 15, 2010 (New Delhi)
The Anil Ambani group's telecom arm Reliance Communications on Saturday reported a 10 per cent increase in its net profit for the March quarter to Rs 1,220 crore, but its full-year profits dipped by 23 per cent.
Commenting on the results, R-Com chairman Anil Dhirubhai Ambani said, "the telecom industry has witnessed financial year 2010 as one of the most challenging years.
"R-Com has undertaken several pathbreaking initiatives both in GSM and CDMA services and we are confident that in spite of highly competitive environment, we will be able to sustain profitable growth in the coming quarters."
The company's Q4 net profit rose by 10.1 per cent to Rs 1,220 crore. But, full year net profit dipped to Rs 4,655 crore in fiscal ended March 31,from Rs 6,045 crore in 2008-09.
It said the full year net profit would have been higher by Rs 192 crore at Rs 4,847 crore, but for non-recognition of mark-to-market gains on derivative contracts.
The company reported total revenues of Rs 22,132 crore for 2009-10, down 3.6 per cent from Rs 22,949 crore in previous year.
Its board approved a 17 per cent dividend, which would result in total payout of Rs 205 crore and made it the only telecom firm in the country to declare dividend for three consecutive years, the company said.
The company said it has achieved a landmark of 100 million customers, making it the 2nd largest wireless operator in the country to achieve this milestone.
RCOM had first lunched its pan-India mobile services in 2003. The company said it the fastest ramp up of mobile customers in the world and has become the 4th operator in the world to serve over 100 million customers in a single country.
RCOM is the flagship company of the Reliance Anil Dhirubhai Ambani Group. The company, with a customer base of 109 million including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country.
Commenting on the results, R-Com chairman Anil Dhirubhai Ambani said, "the telecom industry has witnessed financial year 2010 as one of the most challenging years.
"R-Com has undertaken several pathbreaking initiatives both in GSM and CDMA services and we are confident that in spite of highly competitive environment, we will be able to sustain profitable growth in the coming quarters."
The company's Q4 net profit rose by 10.1 per cent to Rs 1,220 crore. But, full year net profit dipped to Rs 4,655 crore in fiscal ended March 31,from Rs 6,045 crore in 2008-09.
It said the full year net profit would have been higher by Rs 192 crore at Rs 4,847 crore, but for non-recognition of mark-to-market gains on derivative contracts.
The company reported total revenues of Rs 22,132 crore for 2009-10, down 3.6 per cent from Rs 22,949 crore in previous year.
Its board approved a 17 per cent dividend, which would result in total payout of Rs 205 crore and made it the only telecom firm in the country to declare dividend for three consecutive years, the company said.
The company said it has achieved a landmark of 100 million customers, making it the 2nd largest wireless operator in the country to achieve this milestone.
RCOM had first lunched its pan-India mobile services in 2003. The company said it the fastest ramp up of mobile customers in the world and has become the 4th operator in the world to serve over 100 million customers in a single country.
RCOM is the flagship company of the Reliance Anil Dhirubhai Ambani Group. The company, with a customer base of 109 million including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country.
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