Earnings reports

Reliance Reports Results

MUMBAI -- Reliance Communications Limited (“RCOM”) today announced its unaudited consolidated financial results for the quarter ended 30th September, 2006. The highlights of financial performance are:

  • Net Profit of Rs. 702 crore (US$ 153 million), compared to a loss of Rs. 19 crore (US$ 4 million) in the corresponding quarter last year
  • EBITDA at Rs. 1,353 crore (US$ 294 million), growth of 216% over the corresponding quarter last year
  • Revenue growth of 40% at Rs. 3,526 crore (US$ 767 million) compared to Rs. 2,522 crore (US$ 549 million)
  • EBITDA margin expands to 38% from 17% in the corresponding quarter last year, with strong contributions across all businesses – Wireless, Global and Broadband
  • Total Assets of Rs. 32,281 crore (US$ 7,025 million) as at 30th September, 2006
  • Net Debt declines sequentially by 16% to Rs. 2,057 crore (US$ 448 million) as at 30th September, 2006.

Commenting on the results, Mr Anil Dhirubhai Ambani, Chairman, Reliance Communications Limited said:

“The Reliance Communications growth engine is poised to deliver accelerated profitability and even greater momentum in the years ahead. Our unique fully integrated telecom operations, differentiate us from mainly mobile operators, and will deliver unmatched value to our over 2 million shareholders.”

Reliance Communications Ltd. (RCom)

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