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4 years ago
India's Reliance Communications Q3 net up marginally, misses estimates
February 7, 2014 / 12:35 PM / 4 years ago

India's Reliance Communications Q3 net up marginally, misses estimates

NEW DELHI, Feb 7 (Reuters) - Reliance Communications Ltd , India's fourth-biggest cellular carrier by customers and revenue, missed estimates with its quarterly profit rising about 3 percent as higher debt costs weighed.

Reliance Communications, controlled by billionaire Anil Ambani, said on Friday consolidated net profit rose to 1.08 billion rupees ($17.3 million) for its fiscal third quarter to end-December, from 1.05 billion rupees a year earlier.

Revenue rose 1.9 percent from a year earlier to 54.03 billion rupees, lagging estimates. Nine analysts on average had expected a net profit of 2.58 billion rupees on revenue of 55.52 billion rupees. ($1 = 62.5225 Indian rupees) (Reporting by Devidutta Tripathy; Editing by Subhranshu Sahu)

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