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RCOM expects capital expenditure of $274 million: Report

14 May 2013 Evaluate

Reliance Communications (RCOM), the country’s no. 3 mobile phone carrier by customers is reportedly expecting capital expenditure of about Rs 1,500 crore ($274 million) for the year to March 2014. The company has recently made full payment of a loan amounting to over Rs 2,700 crore that was taken from a group of international banks.

On Standalone basis, the company has reported a fall of 5.84% in its net profit at Rs 757 crore in Q4FY13 as compared to net profit of Rs 804 crore in the same quarter previous year. However, total income of the company has increased by 8.88% to Rs 2880 crore as compared to Rs 2645 crore in corresponding quarter last year.

For the year ended March 31, 2013, the company has reported over 4 fold jump in its net profit at Rs 624 crore in FY13 as against Rs 156 crore in previous year. Total income of the company has increased to Rs 11,267 crore as compared to Rs 11,110 crore in FY12, up by 1.41%.

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