RCOM posts a 33 per cent decline in profits in the first quarter of 2013

Reliance Communications (RCOM) has reported its financial results for the first quarter of 2013

The company has posted a net profit of Rs 1.08 billion for the first quarter of 2013, a 33 per cent decline compared to the corresponding period in 2012. In the first quarter of 2012, RCOM had reported net profit of Rs 1.62 billion.

The service provider reported consolidated total revenues of Rs 53.15 billion in the first quarter of 2013 as against the consolidated total revenues of Rs 52.64 billion in the corresponding period of 2012. The company has reported a decline in profits for the fourth consecutive quarter.

For the period under review, the company?s earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 17.01 billion. RCOM has reported an EBITDA margin of 31.4 per cent with strong contribution from its wireless and GEBU businesses.

For the first quarter of 2013 the company?s revenues from the wireless business stood at Rs 48.16 billion and the EBITDA for the business stood at 13.14 billion.