Reliance Communications gains post Q1 results

Q1 EBIDTA margin improved to 31.0% from 30.7% quarter-on-quarter

Reliance Communications is trading higher by 2% at Rs 55.75 after reporting a 3% year-on-year (yoy) increase in consolidated net profit at Rs 162 crore, despite of higher interest cost for the quarter ended June 30, 2012. Total turnover grew 8% at Rs 5,319 crore on y-o-y basis.

The consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) margin was down to 31.0% from 32.4% a year earlier, but was slightly better than the 30.7% in the January-March period. Finance charges, which include interest expenses, rose 37% at Rs 553 crore during the recently concluded quarter over the previous year.

The stock opened at Rs 54.40 and hit a high of Rs 56 on the NSE. A combined 1.3 million shares have changed hands on the counter in opening trades on both the exchanges.