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Reliance Communications Q4 Net Profit Almost Halves

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Reliance Communications Ltd , India's fourth-biggest cellular carrier by customers, reported a higher-than-expected 48.5 percent fall in quarterly profit from a year ago-period that had been aided by one-off gains, even as carriers are benefiting from lower competition and higher call prices.
 
Reliance Communications, controlled by billionaire Anil Ambani, said consolidated net profit fell to Rs 156 crore  ($26 million) for its fourth quarter ended March 31, from Rs 303 crore reported a year earlier.
 
That compared with analysts' average estimate of Rs 215 crore, according to Thomson Reuters data. 
 
(Reuters)


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