Reliance Communications net up 8.3 percent
July 31st, 2009 - 6:34 pm ICT by IANSMumbai, July 31 (IANS) Reliance Communications (R-Com), part of the Anil Dhirubhai Ambani Group, has posted a net profit of Rs.1,637 crore ($342 million) for the quarter ended June 30 as against Rs.1,512 crore in the like period last year, a growth of 8.3 percent.
The company’s total income surged 15.5 percent to Rs.6,145 crore from Rs.5,322 crore, it said in a regulatory statement.
“Successful commercial launch of nationwide GSM services and other new initiatives across all our businesses have helped drive profitable and sustainable growth at Reliance Communications,” company chairman Anil Ambani said in the statement.
During the quarter, Reliance Infratel (RITL), a subsidiary of R-Com, signed a long-term agreement with the United Arab Emirates (UAE)-based Etisalat DB for sharing telecom infrastructure.
The agreement for sharing of end-to-end tower and transmission infrastructure is expected to enhance R-Com’s revenue by Rs.10,000 crore.
- TDSAT notice to Etisalat on RComm's Rs.1,200 crore dues - Feb 23, 2012
- R-COM revenues up, but profit down on forex adjustments - Aug 13, 2010
- Reliance Communications examining sale of controlling stake in arm - May 31, 2011
- RCom calls off tower deal with GTL Infra - Sep 06, 2010
- RCom, Aircel to sign $300 mn infrastructure sharing deal - Aug 31, 2009
- Reliance Infratel asks S Tel to pay dues, TDSAT issues notice - Mar 05, 2012
- Etisalat, RCom sign infrastructure sharing pact - Jul 22, 2009
- RCom merges tower business with GTL Infra - Jun 27, 2010
- Reliance Communications to de-merge telecom infrastructure arm - Jun 14, 2010
- Anil Ambani talks of unlocking shareholder value (Roundup) - Sep 27, 2011
- RCom up 4.4 percent, gains after GTL deal - Jun 28, 2010
- RComm sequential quarterly profit rises 60.5 percent - Nov 12, 2011
- Reliance Infra quarterly net profit rises 8 percent - Aug 11, 2011
- Reliance Comm posts Rs.157 crore Q1 profit - Aug 13, 2011
- RCom profit after tax Rs.15.12 bn in April-June - Jul 31, 2008
Tags: anil ambani, anil dhirubhai ambani group, communications company, company chairman, gsm services, initiatives, launch, net profit, quarter ended june, reliance, rs 1, rs 6, subsidiary, sustainable growth, telecom infrastructure, transmission infrastructure, united arab emirates