anujit 0 Report post Posted February 21, 2006 Of course this is in Reliance Communications name. And that involves more than just Infocomm. Wonder how Infocomm is doing by itself! MUMBAI, February 21, 2006 Reuters India's Reliance Communications Ventures Ltd., the spun off unit of Reliance Industries Ltd. (RELI.BO: Quote, Profile, Research), said on Tuesday that its net profit for the quarter to December stood at 3.10 billion rupees ($70 million). The company, which holds former Reliance group's telecom interests, and is now controlled by Anil Ambani, said revenue for the quarter was 33.27 billion rupees. It did not provide comparable numbers for the previous year as the company was not then in existence, a statement said. Reliance Communications Ventures is expected to begin trading on stock exchanges in the second week of March. Reliance Industries Ltd. (RELI.BO: Quote, Profile, Research) spun off its telecom interests into a separate company as part of a settlement between brothers Mukesh and Anil Ambani, who were disputing control of group's assets. The undivided Reliance Industries held oil and gas, power, petrochemicals, finance and telecom businesses valued at about $29 billion. But the settlement resulted in elder brother Mukesh gaining control of the energy and petrochemicals businesses, while the rest went to Anil. Reliance Communication's results include Reliance Infocomm Ltd., the CDMA wireless operator, Reliance Telecom Ltd., which operates GSM phone service, Reliance Communications Infrastructure Ltd., and global network company, FLAG Telecom. http://today.reuters.com/business/newsArti...ryID=nBOM311786 Share this post Link to post Share on other sites
SexyGurl 0 Report post Posted February 21, 2006 (edited) This is very interesting news. Rs. 3,327 crores of revenues in 3rd quarter ... probably they will close the year with, say, 12000 crores. (BSNL's revenues would be around 35,000 crores and Bharti about 14,000 crores) and 310 crores in profits for 3rd quarter ... so, maybe 1200 crores for the full year. Finally, Junior Ambani will see some cash to spend on the further expansion of Infocomm. Total cashflow, available for investing would be around 4,000 crores (1200 cr net profit + 1800 crores of depreciation etc.). Infocomm seems to be get going on it's own strength, now. Quite Good News. Edited February 21, 2006 by SexyGurl Share this post Link to post Share on other sites
FEVIN-RAJ 61 Report post Posted February 21, 2006 unbelievable ...but gr8888 news Share this post Link to post Share on other sites
anujit 0 Report post Posted February 21, 2006 Dude multiplying by a factor of 4 never gives proper figures. They could be in deep **** before that. But they adjusted their debts/loans/investments accordingly to get good Q3 figures. Share this post Link to post Share on other sites
basant_jp 0 Report post Posted February 21, 2006 Reliance Communications Ventures Ltd. Announces Proforma Consolidated Q3 Financials DAKC (Dhirubhai Ambani Knowledge City), Navi Mumbai, February 21, 2006 Reliance Communications Ventures Ltd. (RCVL), one of the four Reliance - Anil Dhirubhai Ambani Group companies formed on the reorganization of the Reliance group, today announced unaudited proforma consolidated results for the latest quarter ended December 31, 2005. The highlights of financial performance are: * Total revenues of Rs 3,327 crore (US$ 749 million) * EBITDA of Rs 848 crore (US$ 190 million) * Cash profit of Rs 720 crore (US$ 162 million) * Net profit of Rs 310 crore (US$ 70 million) The net profit of Rs. 310 crore (US$ 70 million) for Q3 ended December 31, 2005, compares with a net loss of Rs. 250 crore (US$ 56 million) for Q1 ended June 30, 2005, being the period prior to the announcement of restructuring and demerger of the Reliance group. These proforma numbers are based on financial performance of all companies in the RCVL group, including inter alia Reliance Infocomm Ltd., Reliance Communications Infrastructure Ltd., FLAG Telecom, and Reliance Telecom (prior to adjustment for minority interests). As the company was not in existence in the financial year 2004-05, there are no comparable figures for the preceding year. RCVL is not yet a listed company, and to that extent, disclosure of quarterly financial results is statutorily not required to be made. This disclosure is voluntarily being made to uphold the highest standards of transparency and corporate governance, for the benefit of over 20 lakh Reliance investors, who have become RCVL shareholders, as a result of the scheme of arrangement of Reliance Industries Ltd. (RIL) approved by the Hon'ble High Court of Judicature at Bombay in December 2005. As already announced, RCVL is expected to be listed on the BSE and NSE in the week beginning March 6, 2006, subject to regulatory and other approvals. Proforma Consolidated Results of RCVL: Share this post Link to post Share on other sites
theking 35 Report post Posted February 21, 2006 These proforma numbers are based on financial performance of all companies in the RCVL group, including inter alia Reliance Infocomm Ltd., Reliance Communications Infrastructure Ltd., FLAG Telecom, and Reliance Telecom (prior to adjustment for minority interests). Still looking forward for its merger with RCIL..whatta say guys! Share this post Link to post Share on other sites
theking 35 Report post Posted February 21, 2006 Remember writting off the debts at the time of P2P?...that was RCIL right!...That was Q1/Q2 right Share this post Link to post Share on other sites
Arun 795 Report post Posted February 21, 2006 P2p? 'postpaid to prepaid' migration Reliance Infocomm writes off Rs 4,500 crore !!! [ Monday, February 20, 2006 11:46:56 pm - TIMES NEWS NETWORK ] MUMBAI: The cheap subscriber schemes and large scale import of poor quality handsets during the early days of Reliance Infocomm in 2001 has now come back to haunt the company. On Monday evening, Reliance Communication Ventures, the company created to park the RIL ownership as part of the division between the Ambani brothers, said that its board of directors had decided to write-off Rs 4,500 crore accrued till March 2005 before the ownership shifted from Mukesh to Anil. Post write-off Reliance Infocomm’s net worth will become Rs 11,000 crore, a company statement said. The bad debts accrued from its countrywide launch in 2001 due to the losses on the ‘Monsoon Hungama scheme’ where the company offered schemes to subscribers for just Rs 501 and later even as low as Re 1 for a connection. Months before the split, Reliance Industries had transferred Rs 3,500 crore of its bad debts to Smart Entrepreneurs Ltd, a subsidiary of Reliance Communication Infrastructure (RCIL). RCIL later became part of Reliance Infocomm. In 2005, just before the split of the Reliance Group, Reliance Infocomm, then controlled by Mukesh Ambani, had written off Rs 450 crore of its outstanding bad debts and disconnected 9.3 lakh subscribers, nearly 10% of the subscriber base then close to 1.1 crore. In addition to these schemes and 20 lakh poor quality handsets, the company had to pay penalties and access deficit charges to the Department of Telecommunication (DoT) for re-routing international calls as domestic calls. DoT fined Reliance Infocomm for violating the international subscriber dialling (ISD) norms. The company paid close to Rs 150 crore as penalties to the DoT. The board of directors took this drastic step after receiving a green signal from Ernst & Young, the company’s independent auditor. A company release attributed the write-offs to liabilities relating to regulatory and taxation matters, bad debts, irrecoverable amounts, obsolete, slow moving inventories and the impairment of assets. The move is part of cleaning up the balance sheet prior to listing on the bourses on March 6. However telecom analysts are surprised by the size of the write-off. Share this post Link to post Share on other sites
theking 35 Report post Posted February 21, 2006 Months before the split, Reliance Industries had transferred Rs 3,500 crore of its bad debts to Smart Entrepreneurs Ltd, a subsidiary of Reliance Communication Infrastructure (RCIL). RCIL later became part of Reliance Infocomm. that means that reliance would have to stop Customer care section soon as Smart Entrepreneurs takes care of Reliance CC ! Share this post Link to post Share on other sites
SexyGurl 0 Report post Posted February 22, 2006 (edited) From the table given above, listing 9 months of performance (first 3 quarters of the current financial year): Revenues will easily hit Rs. 12,000 crore mark for the full year. Profits certainly look dicier ... the first quarter wipes out the profits of the third one. Though, about Rs. 1,600 crores of cashflow from depreciation, is certainly on. They key for them is to boost revenues ... the expenses are more or less static. --> Last two months of subscriber addition has been reasonable, prior to that is was barely ok. Edited February 22, 2006 by SexyGurl Share this post Link to post Share on other sites
@ksh@T 20 Report post Posted February 24, 2006 but theese profits will be of use when that amount will be spent on US!....Us bole to APPUN log......aur sasta...mangta.... Share this post Link to post Share on other sites
