Shan’s Blog

Anil Ambani group company Reliance Communications has posted a 198 percent increase in net profit at Rs 924 crore for the quarter ended 31st December 2006 as against Rs 310 crore during the corresponding quarter last fiscal.

Revenues for the October-December 2006-07 period grew 26 percent at Rs 3,755 crore as compared to Rs 2,991 crore in the year ago period, the company said in a release in Mumbai.

“We have delivered another quarter of strong revenue and EBITDA growth across all our business segments. Net profits have increased by three times in the past year,” R COM Chairman Anil Ambani said while commenting on the results.

The company would continue to focus on further strengthening its position within the country’s rapidly growing telecom sector, achieving profitable growth and delivering long term value for its shareholders, he said.

During the quarter, the company added four million wireless subscribers as compared to 2.1 million in the corresponding quarter last year.