Mumbai, May 10: Reliance Communications today posted a better than expected net profit for the fourth quarter ended March, helped by a jump in other income.
Analysts had expected a net profit of around Rs 100 crore, but it stood at Rs 303 crore, though it fell 9 per cent from Rs 332 crore a year ago.
Other income rose to Rs 777 crore from Rs 223 crore in the preceding quarter.
Total revenues increased 12.3 per cent to Rs 5,956 crore from Rs 5,301 crore in the third quarter.
Revenues from the wireless segment rose to Rs 4,626 crore (Rs 4,515 crore), while the global enterprise business saw a marginal rise in earnings at Rs 2,466 crore (Rs 2,454 crore).
The company was also successful in stabilising its revenue per minute (RPM) during the quarter. “We have successfully achieved RPM stability for the last 12 consecutive quarters amid intense competition and over-supply of minutes in the market,’’ it added.
R-Com said it had fully paid a loan amounting to over Rs 2,700 crore taken from a group of international banks.