BackReliance Communications Q4 profit up 46% on lower finance costs
Net profit was at Rs228 crore for the reporting quarter against Rs156 crore a year ago
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Mumbai: Anil Ambani-controlled Reliance Communications Ltd (R-Com) reported a 46.15% rise in net profit for the quarter ended 31 March from the year-ago period, boosted by lower finance costs and lower depreciation.
Net profit was at ₹ 228 crore for the reporting quarter against ₹ 156 crore a year ago.
Total income from operations rose 5.34% to ₹ 5,694 crore in the quarter, from ₹ 5,405 crore a year ago. Finance costs declined by 26.57% to ₹ 666 crore for the quarter.
R-Com reported 43.68% lower depreciation and amortisation expenses, at ₹ 995 crore for the reporting quarter against ₹ 1,767 crore last year, following certain adjustments.
R-Com continues to be cash-flow positive as it generated operational cash flow of ₹ 1,976 crore in the fourth quarter of the last financial year, paid net finance charges of ₹ 666 crore and invested ₹ 505 crore on capital expenditure during the quarter, the company said n a statement.
“It (the company) remains free-cash-flow (FCF) positive and this is expected to continue," the statement said.
The company said the revenue per minute has gone up 2.8% for the reporting quarter while average revenue per unit was at ₹ 147, up 14.8%.
“The total data customer base has grown 26.2% year-on-year (y-o-y) to 33.7 million, including 17.4 million 3G customers, in Q4. The total data traffic, at 87,211 million megabytes, was up 73.6% y-o-y. Traffic has increased due to increase in data subscribers and higher data usage per customer," R-Com said.
Shares of R-Com ended on Friday at ₹ 67.8 on BSE, up 5.3%, while the benchmark Sensex rose 1.2% to close at 27,828.44 points.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay High court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.
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