Domestic market drives RCOM top line growth

Indian telco Reliance Communications (RCOM) has registered a 1.9% year-on-year increase in revenues for the three months ended 31 December 2013, as growth in the telco’s domestic market offset declines in its global business, largely the result of falling turnover from international voice services. Revenue for the period totalled INR54.03 billion (USD870.82 million), whilst EBITDA grew 11.6% to INR18.45 billion with an EBITDA margin of 34.2%, compared to 31.2% a year earlier. Similarly, on a quarter-on-quarter basis revenue grew by 0.2%, although EBITDA dipped by 2.1%. RCOM ended its fiscal Q3 2014 with 118.5 million wireless voice subscribers, and 11.1 million 3G users, compared to 117.5 million and 9.1 million respectively three months earlier.