Reliance Communications reports a net loss of Rs 757.99 crore for FY11

Reliance Communications has reported results for the year ended March 31, 2011.

The company has reported a net loss of Rs 757.99 crore as compared to a net profit of Rs 478.30 crore for FY10. Its total income has increased marginally by 0.82% at Rs 12614.02 crore for the year from Rs 12511.72 crore in previous year.

On consolidated basis, the group’s net profit after adjustment of share of minority interest and associates for the year has fell 71.09% at Rs 1345.65 crore as compared to Rs 4655.00 crore for the year ended March 31, 2010. Total income for the year has increased by 4.41% at 23107.63 crore as compared to Rs 22132.28 crore for the previous year.

Reliance Communications has recommended a dividend of Re 0.50 per equity share of Rs 5 each i.e. 10% for the financial year ended March 31, 2011.