Reliance Communications net profit dips 22% to Rs 177 cr

Company had reported a net profit of Rs 228 crore in corresponding period last fiscal year

Reliance Communications (Rcom) on Monday, reported a 22.36% drop in consolidated net profit to Rs177 crore for the quarter ended March 31 on account of rise in expenses.

The company had reported a net profit of Rs 228 crore in the corresponding period last fiscal.

The total expenses increased to Rs 5,219 crore in the reported quarter as compared to Rs 4,722 crore in the same period of last year, the company said in a filing to the BSE.

Total income from operations declined 1.35% to Rs 5,617 crore in the same period.

On yearly basis, the net profit stood at Rs 681 crore for fiscal 2015-16 as compared to Rs 714 crore last year. Total income was Rs 21,711 crore in the reported fiscal, as compared to Rs 21,770 crore last year.

The total data customer base has grown 15.4 per cent year-on-year to 38.9 million including 24.2 million 3G customers in Q4.

"The total data traffic at 104.7 billion MB is up 20.1% Y-o-Y. The traffic has increased due to increase in data subscribers and higher data usage per customer," the company said.