Seasonality and movement of subscribers within the country impacted June quarter growth, Gurdeep Singh, Chief Executive Officer, Consumer Business, Reliance Communications told CNBC-TV18 adding that migration will continue to impact growth in coming quarters. Reliance Communication’s profit grew 34 percent to Rs 177 crore and revenues rose 2.6 percent to Rs 5,541 crore in the June quarter. Indian operations grew 1.5 percent to Rs 4,791 crore and telecom revenue increased 3.4 percent to Rs 4,673 crore. The company is in talks with AFK Sistema for the merger of Sistema's domestic telecom business Sistema Shyam TeleServices with itself via stock swap, Singh said adding that transition could happen by early 2016. The company’s focus is on reducing debt by FY17 through internal accruals, sale of global assets, real estate DTH and infratel, he said.
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