Reliance Communications registered an increase of 98% in its net profit during the fourth quarter.
The company’s net profit during the period under review stood at Rs 332 crore as compared to Rs 168 crore during the year-ago period.
But, during the year ended March 31, 2012, the telecommunication service supplier announced a decline of 31% in its net profit, which remained at Rs 928 crore as against Rs 1,345 crore during the year-ago period.
In the twelve month period ended March 31, 2012, the company's net income augmented to Rs 22,431 crore as against Rs 19,677 crore during the corresponding period of last year.
The net income from operations for the quarterly period and year ended March 31, 2011, consisted of a one-time adjustment of Rs 2,545 crore consequent upon alteration of accounting treatment with regard to Indefeasible Rights of Use.
Hence, the numbers are not comparable with those of the quarterly period and year closing March 31, 2012.
A break-up of the segment income in the reporting quarterly period depicts that development in wireless biz remained flat at Rs 4,505 crore and revenues from GEBU was down 50% to Rs 2,440 crore.
The company’s board has declared a dividend of 25 paise per equity share of Rs 5 for the fiscal 2011-12.
On May 25, RCom declared a 61% reduction in its 3G tariffs to meet up rivalry from Airtel and Idea.
Shares of the company gained 4.7% after it declared net profit for the quarter ended March 31, 2012.
Making a optimistic start, RCom share made a gain of 4.49% to hit a high of Rs 68.55 on the BSE.
At the NSE, the share gained 4.73% to Rs 68.60.
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