R Com Q1 profit falls 85

Despite the sharp dip in profits,the April-June quarter was eventful for the company in Mamp;A terms. RCom subsidiary Reliance Infratel and GTL Infrastructure approved a Rs 50,000 crore USD 11 billion deal to create the worlds largest independent telecom infrastructure company. The company also approved the induction of strategic investors into the company,with up to 26 per cent stake. In addition,RCom board approved a proposal to acquire Digicable,Indias largest Cable TV service provider,in an all-stock deal.

Besides,RCom announced a strategic alliance with the worlds second largest application store GetJar,which will offer RCom an extensive catalogue of over 65,000 free mobile applications.

Meanwhile,looking ahead,on the MNP facility for the customers,which has to be made available from October 31 this year,Seth said,We will be ready within the time-limit for providing MNP services.

On its minutes of usage,RCom said they have increased to 95.4 billion in the April-June quarter,up 13.3 per cent from 83.3 billion in the same quarter last year. Customer base of the company also rose,by 39.2 per cent,to 111 million in the June quarter,up from 80 million in the same quarter last year,the company said.