MUMBAI: Anil Ambani-owned Reliance Communication, through its wholly owned subsidiary Reliance Globalcom Services, has acquired a newly incorporated firm named “Onyx NewCo LLC (ONL) , a Delaware Registered Company, on 15 November.
In the filings on the Bombay stock exchange, Reliance Communication states that ONL will be a telecommunications firm and is yet to start its operations.
On Monday, Reliance Communications’ reported a net profit of Rs 39 crore for the second quarter, down by 28 percent compared to the first quarter.
‘Results for a quarter was impacted by an increase in competitive intensity , migration of CDMA customers to 4G LTE and seasonality factors,’ said the Anil Ambani-owned company in a statement.
Revenue for the second quarter is Rs 5142 crore, down by 4 percent when compared to the first quarter of the financial year. Revenue per minute for the company was down by 1 percent at 44.6 paise for the September end quarter.
