New Delhi: Reliance Communications on Friday reported a 34 percent jump in its net profit at Rs 177 crore for the quarter ended June 30 on the back of growth in data.
The company had reported a net profit of Rs 132 crore in the corresponding period of the last fiscal, it said in a filing to BSE.
Total income of the company rose to Rs 5,493 crore for the reported quarter as compared to Rs 5,354 crore last year.
The company said its total data traffic grew 68 percent year-on-year to 92.8 billion MB mainly due to increase in data subscribers and higher data usage per customer.
The total data customer base has grown 23.8 percent y-o-y to 35.4 million including 17.9 million 3G customers, the filing added.
The average revenue per user (ARPU) stood at Rs 140 while the average revenue per minute was 44.5 paisa.
The company said on May 6, 2015, it issued senior secured notes of USD 300 million bearing 6.5 percent interest.
Commenting on the results RCom Consumer Business CEO Gurdeep Singh told PTI, "Our PAT (Profit after tax) has improved on account of sales, lower interest cost due to deleveraging and operational efficiency."
During the quarter under review, finance cost of company went down to Rs 704 crore as compared to Rs 767 crore in the year-ago period. Net debt of the company stood at Rs 38,596 crore at end of June.
"Revenues for the quarter were adversely impacted by about 2 per cent due to reduction in interconnect usage rates, lower ceiling on roaming tariffs and the onset of seasonality in first quarter, when RCom's fairly larger share of migrant and youth subscriber base moves out to their home locations from early May," Singh said.
He said that these subscribers generally come back on the network in early second quarter.
Elaborating on impact of IUC (Interconnect Usage Charges), he said that on a like-to-like basis, if the Rs 90-crore impact of reduced IUC and roaming rates were added to the topline, the increase would be 3.5 per cent on year-on-year (Y-o-Y) basis.
"During the quarter we did cut on discounts in some circles. There was no fix range of reduction in discounts but it differed from circle to circle and plans to plans," Singh said.
Shares of the company today closed at Rs 60.90 per scrip on BSE, up by 0.83 percent.
