Mumbai: The country’s second largest telecom operator, Reliance Communications (RComm), on Friday reported a 85% decline in consolidated net profit at Rs 250.89 crore for the April-June quarter this year due to high foreign exchange losses and low tariffs. The company logged a net profit of Rs 1,636.61 crore in the same quarter of the previous year.
Profit in the previous quarter stood at Rs 1,220 crore. Revenues were stagnant at Rs 5,109 crore, up 0.3% from Rs 5,093 crore in the last quarter. However, the teleco managed to grow its earnings before interest, tax, depreciation and amortization or EBITDA that rose 1.9% sequentially to Rs 1,632 cro
Our comments: There is huge cry among ourselves that BSNL is not having enough resources to pay salary to ours. This cannot be so. Ours is a big company having crores and crores as assets. BSNL is not having huge debts to clear. There are big companies operating in India having huge debts and also projecting that are profit making companies as per book accounts. But in BSNL some have already started that our company's survival at stake etc. See Bharathi and Reliance income for the first quarter of 10-11 is slipping due to low value for tariff. They are bent on adding more subscribers so that they can concentrate on more usage etc. in future. We in BSNL,we are not able to activate free sim cards given to the subscribers immediately.We also face shortage of 3 G data cards which are in demand. Broadband connections are not able to be given on demand. By controlling our expenditure,frauds in BSNL limited, caring for subscribers we can move this year from red zone easily.
To know more about Reliance income pl..read.. Rcomm..
RComm-Q1-net-plummets-85--on-forex-losses--tariffs
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