RCom Q2 net profit drops 43% to $50 million

Anil Ambani-led Reliance Communications Limited (RCom) has trimmed its standalone net loss of $19.6 million for the second quarter ended September 2011, compared to a loss of $94.6 million in the same period of the previous year.

This comes despite the decline in the standalone profit of the company to $567 million in the quarter ended Sept 2011 from $614.5 million in the same quarter of the previous year.

The company’s net profit decreased to $50 million in Q2 (Sept 2011) compared to $88.7 million the same quarter of the previous year.

The consolidated net income of the company declined to $953 million in Q2 compared to $999 million in the same period last year, RCom stated in the results published on its website.