Reliance Communications (RCom) reported a 3% dip in net profits at Rs 1,454 crore for the quarter ended March 31, 2009 as compared to Rs 1,503 crore posted in March 31, 2008. Revenues however increased by 15.3 % to Rs 6,124 crore.

The company witnessed 11.3 million new subscriber additions during the quarter. The company also added 5,000 towers during the quarter.

“The quality of subscriber acquisitions in this quarter is in line with the quality of the industry in the pre-paid segment. Revenue from new subscribers will become visible from this quarter,” said SP Shukla, RCom’s president for wireless business.

Minutes of Usage dipped to 372 per subscriber from the earlier figure of 410. ARPU too witnessed a drop to Rs 224 from the earlier figure of Rs 251.

For the fiscal year 2008-09, the company registered net profit of Rs5,908 crore at 9.4 % growth while revenues reached Rs 22,941 crore at 20.3 % growth. EBITDA was at Rs 9,288 crore at 13.3 % growth.

“Reliance Communications have completed the World’s largest network roll-out in FY2009 ahead of schedule and at a very competitive cost which is approx 35% lower than original guidance. We are confident of improved performance in the coming years,” said Anil Ambani, Chairman RCom.

The company has now revised capex guidance for fiscal 2010 to Rs 10,000 crore from Rs 15,000 crore earlier. It does not includes cost to be incurred on 3G licences which the company plans to bid for during the fiscal.