RCom net profit slides 37.2%

Anil Ambani-promoted telecom firm RCom reported 37.2 per cent dip in consolidated net profit to Rs 157 crore for the first quarter ended in June 30.

Reliance Communications had posted Rs 250 crore profit for the same period in 2010-11.

Its net income from operations during April-June, 2011-12 was also down 4.3 per cent to Rs 4,849 crore from Rs 5,069 crore posted during Q1 of FY'11, the company said in a filing to the Bombay Stock Exchange.

RComm said that during the quarter the company paid back loan of $500 million raised through foreign bonds and added that it is ready to pay future debt maturities including redemption of Foreign Currency Convertible Bond worth $1 billion due in March 2012.

As per data of the Telecom Regulatory Authority of India, RComm added 2.10 million new subscribers in June taking its user base to 143.26 million. The company offers CDMA as well as GSM mobile phone services across the country.