iWorld

RCom's 3rd quarter numbers improve on Big TV, consumer business exit

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2018/01/30/anil.jpg?itok=tmMhjIm8

BENGALURU: Anil Dhirubhai Ambani-led Reliance Communications Ltd (RCom) reported 95 percent lower loss for the third quarter ended 31 December 2017 (Q3 2018, the quarter under review) as compared with the immediate trailing quarter (Q2 2018). The company reported loss of Rs 130 crore in Q3 2018 as against a loss of Rs 2,712 crore in Q2 2018. It had reported loss of Rs 531 crore in Q3 2017.

After the planned exit from its consumer business that included wireless, direct-to-home (DTH ? Reliance Big TV) and PCO, RCom is left with the B2B business. RCom?s B2B business comprises global and Indian enterprises, internet data centres (IDC), a global submarine cable network and international long-distance voice.

The company said in its media release that it had 40,000 B2B global and Indian customers. It reported a 2.1 percent quarter-on-quarter (qoq) revenue increase for its B2B business at Rs 1,176 crore for the quarter under review. Year on year, revenue in Q3 2018 declined by 30.7 percent from Rs 1698 crore.

EBIDTA for the B2B business increased by 5.9 percent qoq to Rs 252 crore. Net profit after tax (PAT) increased by 28.6 percent q-o-q to Rs 27 crore from Rs 21 crore and was 68.8 percent higher y-o-y that Rs 16 crore.

Revenue from Indian operations declined both qoq and yoy in Q3 2018 by 7.6 percent and 42.9 percent, respectively, to Rs 596 crore. The company had reported revenue from India operations of Rs 645 crore for Q2 2018 and Rs 1,043 crore for Q2 2017. RCom?s Indian operations? operating profit reduced by 7.7 percent qoq to Rs 60 crore in Q3 2018 from Rs 65 crore but increased yoy from Rs 40 crore.

Global operations revenue grew by 4.1 percent qoq in Q3 2018 to Rs 709 crore from Rs 681 crore but reduced by 37.4 percent yoy from Rs 1,132 crore. RCom reported operating profit of Rs 20 crore from its global operations in Q3 2018 as against loss of Rs 3 crore in the immediate trailing quarter but 44.4 percent lower yoy than the Rs 36 crore reported for Q3 2017.   

RCom chairman Anil Ambani said, ?RCom?s planned exit from the consumer business has achieved more than the desired results. RCom has reduced its net loss by over 95 percent. RCom expects to deliver even better financial performance in the coming quarters.?

Also Read :

Reliance Jio acquires RCom?s wireless infra assets

Veecon Media acquires Reliance Big TV

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/20/Facebook_800.jpg?itok=OR0GQ8Cb
Facebook planning smart STB for TVs with video calling support

According to a United States news website, Cheddar, social networking company Facebook is working on smart set-top boxes for TV. And according to the sources, the set-top box will be camera equipped. It will also allow video calling along with entertainment services like Facebook’s YouTube...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/20/Jio_800.jpg?itok=pp4vLPSn
Reliance Jio to maintain ARPU lead over Airtel, Vodafone Idea

Indian telecom company, Reliance Jio, is most likely to maintain its lead on average revenue per user (ARPU) over its rivals Bharti Airtel and Vodafone Idea. The telco’s strategy in the market has paid off well by selectively choosing an inordinate share of 4G smartphone users and continuing to...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/19/net.jpg?itok=iVXsy8xs
Netflix subscriptions to get cheaper in India

Netflix is tuning itself to India’s needs. Netflix chief product officer Gregory Peters said in an earnings call that the company will experiment with cheaper pricing models, betting on India to bring in its next 100 million subscribers for its long-term goal in a bid to increase its growth.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/19/phonepe.jpg?itok=PFXDvFbf
ZEE5 and PhonePe join hands for an amazing cashback offer

ZEE5, India’s largest multilingual entertainment destination, and PhonePe - India's fastest growing digital payments app have partnered to announce exciting offers on content for customers.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/18/Mukesh-Ambani-800.jpg?itok=2N8bZVJV
Jio and organised retail add to RIL's growth in second quarter

Mukesh Dhirubhai Ambani’s largest startup in the world in the form of Reliance Jio Infocomm Ltd or Jio has only gone from strength to strength since its inception. The mobile and broadband subsidiary of Reliance Industries Ltd (RIL), which is already the largest mobile data carrier in the world...

iWorld Telecom
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/am.jpg?itok=qKK25y8g
Mukesh Ambani's RIL announces acquisition of majority stake in Hathway & DEN Networks

Reliance Industries Limited today announced the following strategic investments.

iWorld Telecom
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/netflix.jpg?itok=I7LNZeIl
Netflix adds 6.96 mn subscribers in Q3

After a disappointing Q2 result, global streaming giant Netflix has again beat all expectations in its Q3 earnings. Netflix has not only added 6.96 million subscribers in this quarter but it has reported $4 billion streaming revenue for the quarter which is up 36 per cent year over year.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/AMBANI.jpg?itok=zNibmglX
RIL close to buying majority stakes in DEN, Hathway

Reliance Industries is expected to buy controlling stakes in two of India’s largest cable TV and broadband service providers

iWorld Telecom
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/Taranjeet%20Singh.jpg?itok=dnumI-hj
ZEE5 appoints Taranjeet Singh asChief Revenue Officer& Business Head - New Projects

ZEE5 India, India's second largest OTT platform known for its muscle in multi-lingual content, today announced the appointment of Taranjeet Singh as the Chief Revenue Officer & Business Head – New Projects for the platform.

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories