Technoglitch
Core Member
Telecom operator Reliance Communications has enhanced its annual investment to Rs. 4,000 crore with focus on 3G services, while it ended 2G service in five circles including Bihar, West Bengal and Assam.
"I am happy to share we are increasing financial guidance for capex this year from Rs. 3,000 crore to Rs. 4,000 crore. Much part of it this capex will be invested in financing our 3G footprint and strengthening our footprint in MP-CG (Madhya Pradesh, Chhattisgarh) where we acquired 900 Mhz spectrum,"
He said part of the investment will go in upgrading core network for 4G service, which the company may launch in couple of months from now.
RCom has also closed servicing 2G customers in five circles - West Bengal, Bihar, Assam, Odisha and Northeast areas as it failed to win back 900 Mhz. RCom lost 8.5 million 2G customers as result of ending the service in these areas.
The impact was visible on company's result in third quarter ended December 31. RCom had reported a 15 per cent decline in consolidated net profit to Rs. 171 crore for the period compared with net profit of Rs. 201 crore a year ago.
Total income also declined by 2.9 per cent to Rs. 5,277 crore compared with Rs. 5,435 crore last fiscal.
RCom Plans to Raise Annual Capex To Rs 4,000 Crore - NDTVProfit.com
"I am happy to share we are increasing financial guidance for capex this year from Rs. 3,000 crore to Rs. 4,000 crore. Much part of it this capex will be invested in financing our 3G footprint and strengthening our footprint in MP-CG (Madhya Pradesh, Chhattisgarh) where we acquired 900 Mhz spectrum,"
He said part of the investment will go in upgrading core network for 4G service, which the company may launch in couple of months from now.
RCom has also closed servicing 2G customers in five circles - West Bengal, Bihar, Assam, Odisha and Northeast areas as it failed to win back 900 Mhz. RCom lost 8.5 million 2G customers as result of ending the service in these areas.
The impact was visible on company's result in third quarter ended December 31. RCom had reported a 15 per cent decline in consolidated net profit to Rs. 171 crore for the period compared with net profit of Rs. 201 crore a year ago.
Total income also declined by 2.9 per cent to Rs. 5,277 crore compared with Rs. 5,435 crore last fiscal.
RCom Plans to Raise Annual Capex To Rs 4,000 Crore - NDTVProfit.com
