Rcom net profit falls 61 per cent
India's leading telecom service provider, Reliance Communications (RCom) has recorded a fall of 61.25 per cent in consolidated net profit at Rs 186 crore for the quarter till December 2011.
The company's net profit was recorded at the level of Rs 480 crore in the same quarter in the previous year. The company's total income increased Rs 5,052 crore during the quarter compared to Rs 5,004 crore in the same quarter of the previous year.
The company's average revenue per user for wireless services fell Rs. 100 for the third quarter from Rs. 101 in the preceding quarter. RCOm said that its revenue per minute was at 45 paise, which is claimed to be among the highest in the industry.
Meanwhile, Neyveli Lignite Corporation has reported an increase of a whooping 92.5 per cent in net profit to Rs 184.94 crore in the October-December.
The company had recorded a net profit of Rs. 96.07 crore in the same quarter of the previous year. The net sales of the company rose 20.3 per cent to Rs 1,045.99 crore compared to Rs 869.21 crore in the same quarter of 2010. The profit was less than market expectations.