Reliance Communications net up 17.3 percent

October 31st, 2008 - 9:02 pm ICT by IANS  

New Delhi, Oct 31 (IANS) Reliance Communications (RCom) Friday said its net profit rose 17.3 percent to $330 million (Rs.1,531 crore) for the quarter ended Sep 30.The company registered a net profit of $330 million (Rs.1,531 crore) as compared to $328 million (Rs.1,305 crore) in the corresponding period last year, thereby registering a growth of 17.3 percent.

RCom’s revenue grew 23.3 percent at $1,215 million (Rs.5,645 crore) from $1,152 million (Rs.4,579 crore) in the corresponding period previous year, a company statement said.

The company’s wireless segment contributed Rs.43.36 billion (Rs.4,336 crore) to the turnover, a growth of 16.5 percent from the earlier Rs.37.23 billion (Rs.3,723 crore).

RCom launched its direct-to-home (DTH) services Aug 19 and has acquired 500,000 subscribers within 60 days of its launch.

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