Reliance Communications Q4 net boosted by other income

Moneycontrol Bureau

Anil Dhirubhai Ambani’s flagship company Reliance Communications reported three-fold jump in is net profit to Rs 307 crore aided by other income of Rs 826 crore compared to Rs 165 crore, a quarter ago.
The company’s topline growth was relatively flat at Rs 5130 crore against Rs 5136 crore in the third quarter.
The interest cost of the company shot up by more than 20 percent to Rs 747 crore from Rs 605 crore, a quarter ago.
However, Reliance Communications managed to bring its employee cost down by Rs 100 crore to Rs 213 crore compared to Rs 318 crore in the December quarter.
The annual profits also dropped by 27 percent to Rs 744 crore from Rs 988 crore. The total income rose 4.49 per cent to Rs 20,561 crore from Rs 19,677 crore during the same period.
The operating profit margins of the company were lower at 27.1 percent against CNBC-TV18 estimates of 31.2 percent.
The company's board has recommended a dividend of 0.25 paise per equity share.
"Revenue per minute (RPM) stood at a 44 paise," said the company in its press release.
Reliance  Communications said it has made full payment of a loan amounting to over Rs 2,700 crore that was taken from a group of international banks.
The company has 7.2 million 3G customers and 29.4 million data customers, it added. Also Read: Reliance Communications repays $500 million loan