Reliance Communications has reported an 86.14 per cent drop in net profit for the fourth quarter ended March 31, 2011 largely owing to the heavy debt on its books.
The company reported a net profit of Rs 1.69 billion, as against Rs 12.20 billion reported in the same quarter a year ago.
Revenues were up 54.6 per cent to Rs 78.76 billion while net debt stood at Rs 320.485 billion.
