RCom shares down 4% on Q4 earnings

Tags: News
Share price Reliance Communications today fell by nearly 4 per cent after it reported 48.5 per cent dip in consolidated net profit for the fourth quarter ended March 31.

RCom shares ended 3.93 per cent lower at Rs 117.20 on the BSE. During the day, they lost 4.59 per cent at Rs 116.40.

At the NSE, the stock settled at Rs 117.60, down 3.65 per cent from the previous close.

Telecom operator RCom on Friday reported 48.5 per cent dip in consolidated net profit to Rs 156 crore for the quarter ended March 31. The company controlled by Anil Ambani had posted a profit of Rs 303 crore a year earlier.

On a quarterly basis, profit increased 44 per cent from Rs 108 crore in the third quarter.

Revenue increased 5.36 per cent to Rs 5,405 crore in the January-March quarter, from Rs 5,130 crore in the same period a year ago.

The company's net debt increased 3.3 per cent to Rs 40,178 crore from Rs 38,864 crore a year ago. Net debt was down marginally from Rs 40,761 crore in the preceding quarter.

Finance costs increased 21 per cent to Rs 907 crore.

For the full year ended March, net profit increased 55.8 per cent to Rs 1,047 crore from Rs 672 crore in FY13.

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