Reliance Communications (RCOM) has posted a 37.2 per cent decrease in consolidated net profit to Rs 1.57 billion for the quarter ended June 30, 2011. The operator had posted a Rs 2.50 billion profit for the same period in 2010-11.
RCOM?s net income from operations during April-June, 2011-12, also decreased by 4.3 per cent to Rs 48.49 billion from Rs 50.69 billion in the period under consideration.
RCOM has said that during the period under review, it paid back a $500 million loan raised through foreign bonds. It added that it was ready to pay off its debts as they mature, including redeeming foreign currency convertible bonds worth $1 billion due in March 2012.
