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Reliance Comm Q1 net falls 37 pc to Rs 157 cr; hikes call tariff by 20 pc

Reliance Comm Q1 net falls 37 pc to Rs 157 cr; hikes call tariff by 20 pc

Author | exchange4media News Service | Monday, Aug 15,2011 8:42 AM

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Reliance Comm Q1 net falls 37 pc to Rs 157 cr; hikes call tariff by 20 pc

Reliance Communications, a part of the Anil Ambani-led Reliance Group, has reported a 37 per cent drop in its net profit for the first quarter ended June 30, 2011 – from Rs 250 crore in Q1 FY11 to Rs 157 crore in Q1 FY12.

The telecom company’s Q1 revenues to registered a decline of 4.3 per cent at Rs 4,850 crore. Meanwhile, the company’s total income declined to Rs 2,854 crore in Q1 FY12, as against Rs 3,186 crore in the corresponding quarter of the last fiscal.

Now, Reliance Communications has announced a hike of 20 per cent in its call charges for both GSM and CDMA services in most of its operating circles, owing to higher inflation in the country.

Recently, the company became the first 3G operator in the country to enter the tablet space by unveiling its Reliance 3G Tab, a fully loaded Android tablet priced at around Rs 13,000.
 

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