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RCom net profit up 21% on cost reductions
2014-08-14 16:03:00| Telecompaper Headlines
(Telecompaper) Indian operator Reliance Communications reported net profit for its fiscal first quarter to June up 21.4 percent year-on-year to INR 1.32 billion. The result was driven by a reduction in costs at its international arm. RCom said additional debt reduction and refinancing efforts are expected to result in annual savings of INR 6 billion on interest from Q2. Net debt dropped to INR 355.0 billion at the end of June from 401.8 billion. The company's revenues in the first quarter were up 2.1 percent to INR 55.2 billion, as 1.3 percent growth at the mobile business in India offset a 5.1 percent decline at the international business. EBITDA rose 9.5 percent to INR 18.6 billion, giving a margin of 33.7 percent. RCom said its mobile ARPU in India was up 14.3 percent year-on-year to INR 136 in the quarter, thanks to price increases and higher revenue per minute. Data traffic also jumped 78 percent from a year earlier to 55.3 billion MB, driven by the roll-out of the 3G network. The operator had 28.6 million mobile internet customers at the end of June, of which 13 million used 3G. Thee was little change in 3G coverage during the quarter, with 334 towns covered and just under 11,700 sites active at the end of June.
Tags: net
cost
profit
reductions
Category:Telecommunications
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