Reliance Communications Q2 net profit up 562 percent

Reliance Communications' second quarter (July-September) consolidated net profit surged by 562 percent on year-on-year basis at Rs.675 crore, the company said Tuesday.

Excluding write-back provision, the net profit was up by 129.4 percent on year-on-year basis at Rs.234 crore.

The operating revenue was at Rs.5,394 crore (excluding provision write-back of Rs.441 crore), up 3.7 percent from Rs.5,202 crore in the second quarter of previous year.

For Indian operations, revenues for voice was up 7.8 percent at Rs.3,384 crore while non-voice revenues was stable at Rs.1,018 crore.

Apart from voice, the company has 34 million data customers including 9.1 million 3G customers.

The company statement said Reliance Communications generated operational cash flow (EBITDA) of Rs.2,328 crore in second quarter, paid net finance charges of Rs.676 crore and invested Rs.364 crore on capex during the quarter. It remains free cash flow (FCF) positive and this is expected to continue.

It further said the business of Reliance Communications has been re-organized into two strategic customer-facing geographical business units -- India and Global Operations. "It has no impact on consolidated financial of the company including consolidated revenue and EBITDA," the statement added.