Reliance's Revenues Tumble

Reliance Communications, one of India's largest telecoms groups, said that its revenue in the quarter ending December 31, 2009 was 53.1 billion Indian rupees (1.15 billion US dollars), down 9% from 58.5 billion rupees in the same quarter of 2008, even though its total subscribers rose to 93.8 million at the end of 2009 compared with 61.3 million at the end of 2008. Amid intense price competition in the Indian market, Reliance said its wireless ARPU in the quarter was 149 rupees a month, down from 251 a year earlier, while wireless revenues per minute fell to 0.45 rupees (less than 1 US cent) from 0.61 in the same quarter of 2008. source: Reliance statement