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Updated: RCOM Q1FY12: Profits Decline 25.75% YoY, Wireless Revenue Up 3.1% QoQ

Updated: More operational details from R-Com’s quarterly report.

Reliance Communications which provides GSM and CDMA mobile services, wireline broadband and ILD & NLD services, reported a decline in its quarterly net profits, compared to the same quarter last year. Its net profits declined to Rs 222 crore, a decline of  25.75% from profits of Rs 299 crore that it registered last year, during the same quarter. Although, sequentially, there has been an increase as the company’s profits last quarter were Rs 168.6 crore.  The net profit after adjustment of shares of minority interest and associates stands at Rs 157 crore. R-Com registered a decline of 28% QoQ in terms of net revenue which now stands at Rs 4940 crore. The company’s EBITDA was at Rs 1602 crore, with an EBITDA margin of 32.4%.

Wireless:

– Wireless: on a consolidated basis, the company’s Wireless business increased 3.1% sequentially, at Rs. 4327 crore in revenues, revenue increased % year on year from Rs. 4153 crore.

– Wireless EBITDA is at Rs 1173 crore, up 2.1%, against Rs 1149 crore that it registered during the previous quarter.

– RCOM’s customer base is up 5.6% QoQ from 136 million, at 143 million, representing a market share of 16.9%.This includes 2 million 3G subscribers. 97.1% of the total are Pre paid customers.

– Wireless minutes of usage increased from 94.4 billion to 97.3 billion, up 3.1% QoQ, , while minutes of use per customer in a month saw a minor decline of 8 minutes at 233 minutes..

– Revenue per minute at 0.44 paise/min. Has been stable since the last six quarters.

– Wireless ARPU was Rs 103, a decline from last quarter’s ARPU of Rs 107. Wireless churn was at 4%.

Global

– RCom’s Global Enterprise Business Unit(GEBU) EBIDTA represents 35% of consolidated EBITDA. Net revenue from this segment was at Rs 1663.6 crore. Starting this quarter, RCom has combined its broadband and Global operations under the GEBU segment and has not reported separate revenues, results and subscriber details for its broadband business.

– Total International Long Distance minutes increased to 5019 million this quarter compared to last quarter’s 4538 million.

– Total National Long Distance Minutes witnessed a minor decline at 16,264 million minutes, during Q1FY12.

– Broadband Access lines saw an increase of 2,000 , registering a total of  1,516,000

Others

– Reliance Digital TV has 3.7 million subscribers, with an 11% market share in the Indian DTH market.

– During the quarter RCOM redeemed FCCB (Foreign Currency Convertible Bond) of $500 million in May 2011, to repay future debt maturities( including future FCCB redemption of $1 billion due in May 2012).

Download: Release | Financials | Report

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