New Delhi, May 10 : Reliance Communications Friday said its net profit surged almost 300 percent to Rs. 624 crore in fiscal 2012-13.
The company posted a net profit of Rs. 624 crore for the year ended March 31, 2013 as compared to Rs. 156 crore for the year ended March 31, 2012.
Total income increased from Rs. 11,863 crore for the year ended March 31, 2012 to Rs. 12,820 crore for the year ended March 31, 2013.
Reliance Communications share price rose 0.55 percent to Rs. 110.30 at the Bombay Stock Exchange.(IANS)
India's third-biggest mobile phone carrier by customers, Reliance Communications has increased tariffs on some of its plans by more than 20 per cent.
The company also said that it cut promotional offers and discounts on some plans by as much as 65 per cent. The company, like several other India telecom service providers, is facing huge debt burden and high cost of airwaves. Reliance Communications is looking to reduce discounts and increase prices in order to improve margins.
In a bid to stretch its reach to more consumers, Reliance Communications (RCom) has hit an agreement with network provider Aircel to share each other's 2G network across India.
The agreement will enable subscribers of RCom and Aircel to roam or use each other's network anywhere in the country free of cost.
RCom described the agreement as the first step in 2G inter circle roaming (ICR) deals that the company is planned with other GSM operators in the country.
New Delhi, April 23 : Telecommunications service provider Reliance Communications Tuesday said it has partnered with Twitter to launch a bundled prepaid plan known as 'Reliance Twitter Access Pack' for the company's GSM subscribers.
"Our partnership with Twitter in India further strengthens our offering on the social media platform and is in line with our efforts to offer innovative products with affordability for our customers," said Nilanjan Mukherjee, chief revenue officer - wireless, Reliance Communications.
After hitting Rs 1,200-crore telecom deal with Anil Ambani's Reliance Communications, Mukesh Ambai-led Reliance Industries Ltd (RIL) has invested Rs 800 crore in Anil-led Reliance Mutual Fund's various mutual funds schemes.
The investments by RIL have been made in Reliance Mutual Fund's Fixed Maturity Plans (FMPs) and some debt schemes.
RIL invests a considerable portion of its surplus funds in mutual funds, but made no investment in Reliance Mutual fund's schemes since the division of the conglomerate in the year 2005. The recently made Rs
Mumbai, April 3 : Indian markets continued to cheer the agreement reached Tuesday by Reliance Industries to share the optic fibre network of Reliance Communications for 4G telecom services, as analysts said it could entail more such pacts in the future.
Mumbai, April 2 : Companies run by brothers Mukesh and Anil Ambani Tuesday announced a Rs. 1,200 crore deal for cooperation in telecom business.
As per the deal, Mukesh Ambani-led Reliance Jio Infocomm will utilise Anil Ambani-led Reliance Communications' optical fibre network for fourth generation (4G) telecom services.
Reliance Communications in turn will have reciprocal access to optic fibre infrastructure to be built by Reliance Jio in future.
Reliance Jio is a subsidiary of Reliance Industries.
The Indian government has imposed an additional fee of $339 million or 18.42 billion rupees on the leading five telecom service providers in the country after it was found that the companies had underreported their revenues.
Popular social network Facebook has teamed up with select telecom providers - Airtel and Reliance Communications - in India for offering the advantage of free messaging to the mobile users in the country.
Facebook's tie-up with Airtel and Reliance is part of the social network's recent move to partner with 18 telecom operators in 14 countries - India included - for offering free or heavily discounted access to its Facebook Messenger app on different platforms.
Reliance Communications, the third largest telecom service provider in India, has said that its net profit has risen to Rs 105 crore in the third quarter of the financial year.
The company, which is a unit of the multimillion dollar Reliance group, had reported a consolidated net profit of Rs 102 crore during the previous quarter. The company's consolidated income from operations increased 2 per cent to Rs 5,136 crore during the quarter from October to December on a quarterly basis.
Stock in Reliance Communications (RCom) gained as much as 7 per cent on Monday, after CLSA said that several catalysts like a tower/infrastructure-sharing deal with Reliance Industries could help Reliance Communications to unlock value.
A tower-sharing deal for 4G rollout is expected to be a win-win deal for both companies as RIL will get the much-required towers at a cheaper cost than installing its own, while RCom will be able to clean up its debt-riddled balance sheet.
As almost all major telecom operators like Bharti Airtel, Idea Cellular and Vodafone continued to suffer fall in the number of subscribers, Reliance Communications managed to expand its subscriber-base further in November.
According to laset figures released by telecom regulator TRAI, Reliance gained a total of 1, 08,990 new subscribers in November, taking the total to 13.41 crore subscribers.
Aircel and Reliance Communications (RCOM) have accused billionaire Sunil Mittal-promoted Bharti Airtel of abusing its dominant position.
Aircel and RCOM have alleged that Airtel has resorted to pressure tactics just days before the festival of Diwali to compel them to pay more towards SMS termination fees.
Airtel has asked its rival operators to sign an interconnect agreement, which asks rival operators to pay 10 paise per SMS sent by a non-Airtel customer.
Reliance Communications Ltd, India's No. 3 mobile phone carrier by subscribers, suffered a larger-than-expected fall in profit in the three months through September as finance charges including interest costs jumped drastically.
The company said that its consolidated net profit fell by 60 per cent to Rs 1.02 billion in the second quarter of current fiscal, from Rs 2.52 billion in the corresponding period of previous year.
India’s telecom sector suffered the first-ever decline in the number of monthly subscriber in July this year, figures released by Telecom Regulatory Authority of India (TRAI) showed.
According to the latest TRAI report, the total number of telecom subscribers slipped by 20.71 million subscribers month on month, from 965.52 million in June to 944.81 million in July.
It was the first time in India’s telecom sector that overall subscriber base had shrunk.
India's second-biggest telecoms carrier by customers, Reliance Communications (RCOM) might consider selling a stake in its cellular tower division next year in order to replay some of its debt, according to chairman Anil Ambani.
The billionaire businessman also said that the company will also try to get its undersea cable unit listed in Singapore after the market conditions improve over the coming months. The company had to delay a planned Initial Public offering (IPO) of a unit on the Singapore stock exchange due to weak market response.
Reliance Communications (RCom) has filed an appeal with the Telecom Disputes Settlement Appellate Tribunal to complaint against Bharti Airtel's move to black all toll-free calls from RCom's enterprise.
India's telecom service provider, Reliance Communications (RCom) has recorded a lower than expected 3.2 per cent rise in profits during the first quarter of the financial year till June 2012.
The company's consolidated net profit rose 3.2 per cent to Rs 162 crore during the quarter then its revenues rose 8 percent to Rs 5319 crore compared to the same quarter of 2011. . The operating (EBITDA) margin for the quarter was at 31 percent, compared to 32.4 percent in first quarter of the previous financial year.
Canada based Research group Veritas has issued a research report about Indiabulls group. The report has suggested investors to fight a legal battle as the company management was following dubious accounting practices.
The stock price of various companies under Indiabulls group crashed between 5-10 per cent during the trading session. Veritas report claims that the public shareholders were at the losing end in the merger deal of Indiabulls Infra with Indiabulls Power.
India’s Reliance Communications has delayed a planned Initial Public offering (IPO) of a unit on the Singapore stock exchange.
The company said in a statement released on Friday that it will list the Global Telecommunications Infrastructure Trust later when the market conditions are more supportive for the IPO. The company was aiming to raise between $700 million and $1 billion by selling the company’s shares in Singapore.