MUMBAI- Reliance Communications Ltd on Monday posted a 22% fall in its fourth-quarter net profit, hurt by lower revenue from voice and data services.
The company, controlled by billionaire Anil Ambani, reported a net profit of Rs 1.77 billion ($26.36 million) for its financial fourth quarter to March 31, compared with Rs 2.28 billion a year earlier.
Total income from operations fell 1.3% to Rs 56.17 billion.
The debt-laden company has undertaken a series of deals in the last six months to sell non-core assets and cut debt, including a spectrum swap deal with elder brother Mukesh Ambani’s company.
RCom also signed a non-binding pact in December to sell its mobile phone masts business to a group of companies led by buyout firm TPG Capital Management LP, but the final terms of that deal are yet to be announced.
