RCom Q3 net falls 19% to Rs 1,165 cr
Anil Ambani Group company Reliance Communications today said its consolidated net profit declined by 19.34 per cent to Rs 1,164.82 crore for the third quarter of 2009-10. - KVB net profit jumps 28% - JK Bank net profit rises 19% - City Union Bank net up 26.55% - Bank of Maharashtra net down 7% - Syndicate Bank net dips 42.6% to Rs 205.72 cr - Great Offshore Q3 net dips 14% to Rs 49 cr The company had a consolidated net profit of Rs 1,444.17 crore for the same quarter last fiscal. "As an integrated and converged telecommunications service provider, we are better placed to withstand the present highly competitive environment," RCom Chairman Anil Ambani said in a filing to the Bombay Stock Exchange. "Despite the sharp fall in tariffs, we have demonstrated stability in wireless revenues and margins and are confident to emerge even stronger in the future," he said. Consolidated net income from operations decreased to Rs 5,283.67 crore for the quarter under review from Rs 5,671.82 crore for the same period previous fiscal. The company said that it decided not to recognise any marked-to-market gains in respect of any outstanding derivative contracts related to loans, liabilities and assets expressed in foreign currency. However, the company provided for marked-to-market losses in respect of derivative contracts, as required by the Institute of Chartered Accountants of India, it said. "The company has not recognised a gain of Rs 19,524 lakh on mark-to-market valuation of derivative contracts outstanding as at the end of the quarter. "If the company had not made this change in the policy, net profit would have been higher by the amount of Rs 19,524 lakh for the quarter," it added.Online loans commented:
This is because of the competition they are facing hope they will gain their position soon
13.09.2011
payday loan commented:
I think so this is big fall for RCom, so investors must exit from RCom and invest their money in any other telecom stock.
12.11.2011
quick quid commented:
Sad to know such down fall.All these movements are result of economic crisis. I believe they will again resume their good position.Thanks for such post.
16.11.2011
12 months loans commented:
It\'s not always going to be a hike but will stand back with the fall too. But despite the fall they will even emerge more stronger in future.
17.11.2011
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RCom is a heavy weightage stock and the market capitalization of RCom is really big. You can see many share holders of RCom. This news can make a bad impact on them.
24.11.2011
Flexcredit commented:
Rcom will come back soon strongly and may be they have to work on few new strategy as we.
25.11.2011
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23.12.2011
Family Offices Singapore commented:
Reliance is very much reliable and big company in the country and anil ambani is pretty confidet that they will soon come back strongly.
29.12.2011
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07.01.2012
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26.01.2012