Reliance Communications - March 2013 Results Preview - Motilal Oswal

- We expect revenue to grow 3.4% QoQ to INR54.8b.

- During the quarter, we expect RPM to increase 1.8% QoQ to INR0.45. RCom's RPM has remained largely flat over the last several quarters.

- Wireless traffic is likely to remain largely flat YoY/QoQ at 104b minutes.

- Consolidated EBITDA should grow 2% YoY to INR16.7b.

- We expect RCom to report proforma PAT of INR1.08b.

- RCom trades at an EV/EBITDA of 5.8x FY14E and 4.6x FY15E. Neutral.

Source : Equity Bulls

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