Anil Ambani controlled Reliance Communication Q3 net profit at Rs.1,410 cr.
KEY HIGHLIGHTS:
NET PROFIT UP BY 2.7% TO RS. 1,410 CRORE (US$ 290 MILLION)
REVENUES HIGHER BY 20.0% AT RS. 5,850 CRORE (US$ 1,204 MILLION)
EBITDA HIGHER BY 11.7% AT RS. 2,353 CRORE (US$ 484 MILLION)
EBITDA MARGIN AT 40.2%
NET WORTH EXPANDS TO RS. 29,065 CRORE (US$ 6 BILLION) AND NET DEBT-EQUITY RATIO PLACED AT A CONSERVATIVE 0.64 : 1
AGGRESSIVE NETWORK EXPANSION ACCELERATED WITH RS. 4,361 CRORE (US$ 900 MILLION) CAPITAL EXPENDITURE DURING THE QUARTER
RCOM ANNOUNCED THE WORLD’S LARGEST CUSTOMER EXPERIENCE PROGRAM AND LAUNCHED GSM SERVICES IN 11,000 TOWNS ALL OVER INDIA
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Mumbai, January 23, 2009: Reliance Communications Limited (RCOM) today announced its unaudited consolidated financial results for the quarter ended December 31, 2008.
Highlights of the financial performance for the quarter are:
Net Profit of Rs. 1,410 crore (US$ 290 million), higher by 2.7% compared to Net Profit of Rs. 1,373 crore (US$ 348 million) in the corresponding quarter last year.
EBITDA at Rs. 2,353 crore (US$ 484 million), growth of 11.7%. EBITDA margin at 40.2%
Revenue growth of 20.0% at Rs. 5,850 crore (US$ 1,204 million) from Rs. 4,874 crore (US$ 1,237 million).
Return on Net Worth is 33.3% reflecting improved resource utilization.
Shareholders Equity (Net Worth) increases to Rs. 29,065 crore (US$ 6 billion)
Conservative capital structure – Net Debt to Equity Ratio maintained at a conservative level of 0.64:1, despite capex spend of Rs. 4,361 crore (US$ 900 million) during the quarter.
CORPORATE DEVELOPMENTS
RCOM launched its GSM services covering 11,000 towns all over India
RCOM announced the world’s largest customer experience program and launched GSM services in 11,000 towns all over India. RCOM has launched its GSM services in just 11 months from the receipt of start-up GSM spectrum in January 2008. RCOM GSM is the state of the art next generation network with digital voice clarity and India’s first nationwide enhanced EDGE network for fast internet access. RCOM GSM will also offer widest R-World mobile content offering entertainment, music, news, cricket, bollywood, maps and search and one-click set-up and access to email and social networking offering communication convenience of a PC.
Reliance BIG TV crosses 1 million subscribers milestone
BIG TV acquired over 1 million subscribers within 90 days of launch. This is the fastest ramp up ever achieved by any DTH operator in the world. BIG TV would be tapping into the existing customer base of Reliance ADA Group companies to rapidly gain market share. The subscribers can enjoy over 200 channels, 32 on-demand channels, which is highest in the industry. The product is available in 1 lakh retail outlets across 6,500 towns.
RCOM repurchased its FCCBs at a discount
RCOM repurchased 250 zero coupon Foreign Currency Convertible Bonds (FCCBs) with the face value of US$ 100,000 each aggregating to US$ 25 million (approx Rs. 121.22 crores) at a discount of 52.5% on December 29, 2008.
RCOM also repurchased 100 zero coupon Foreign Currency Convertible Bonds (FCCBs) with the face value of US$ 100,000 each aggregating to US$ 10 million (approx Rs. 48.77 crores) at a discount on January 21, 2009.
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