RCOM announces Q2 Financial Results for 2013

Reliance Communication (RCOM) has announced its consolidated financial results for the quarter ended September 30, 2013. In this quarter, Operating Revenue was at Rs.5,394 crore, up 3.7% from Rs.5,202 crore in the Q2 previous year. Operating EBITDA at Rs.1,887 crore, up 15.2% from Rs.1,638  crore in the Q2 previous  year. Net profit gained was Rs.234 crore, up 129.4% from Rs.102 crore in the Q2 previous year.
 
Q2 India Operations revenue was up 5.4% Y-O-Y at Rs.4,624 crore from Rs.4,387 crore  in the Q2 previous year. Q2 India Operations EBITDA stood at Rs.1,640 crore, up 15.1% Y-O-Y.

The other key features of the results reveal Q2 global operations revenue at Rs.1,139 crore, down by 0.3% from Rs.1,143 crore in the Q2 previous year.  RCOM generated operational cash flow (EBITDA) of Rs.2,328 crore in Q2, paid net finance charges of Rs.676 crore and invested Rs.364 crore on capex during the quarter. It remains free cash flow (FCF) positive and this is expected to continue. The total data customer base has grown 30.8% Y-O-Y to 34 million, including 9.1 million 3G customers in Q2.
 
RCOM has also announced the launch of new 3G data offer at 2G data prices for Smartphone and Tablet users in this quarter.