Reliance Communications announced a marginal rise in consolidated net profit for the quarter ended September 2015. During the quarter, the profit of the company rose 1.96% to Rs 1,560 million from Rs 1,530 million in the same quarter previous year.

Revenues for the quarter rose marginally 0.70% to Rs 53,240 million, compared with Rs 52,870 million for the prior year period.

Operating margin for the quarter stood at 32.89 percent as compared to 32.36 percent for the previous year period. Operating Income for the quarter was Rs 17,510.00 million, compared with Rs 17110 million in the previous year period.

Earnings per share for the quarter stood at Rs 0.63.

RCom announced the signing of definitive documents for demerger of Sistema's Indian wireless business, carried on by Sistema Shyam Teleservices Ltd. (SSTL) under the MTS brand, into RCom. RCom will acquire approx. 9 million customers and approx. Rs. 15 billion of annual revenues by virtue of the transaction.

In addition, RCom will acquire SSTL's most valuable and superior 800 / 850 MHz band spectrum, ideally suited for 4G LTE services, to complement its own unique nationwide footprint of minimum 5 MHz contiguous 800 / 850 MHz spectrum aggregating 148.75 MHz. This will extend the validity of RCOM's spectrum in 800 / 850 MHz band in 8 important circles by a period of 12 years from 2021 till 2033.

Shares of the company declined Rs 0.55, or 0.7%, to settle at Rs 77.75. The total volume of shares traded was 1,039,194 at the BSE (Friday).