CIOL:Reliance Communication Q3 net up 198 p.c.

MUMBAI: Reliance Communications Limited posted net profit of Rs 924 crore for the third quarter ended December 31 2006, up by 198 per cent, as against Rs 310 crore posted during the corresponding quarter the previous year.

The revenues grew from Rs 2991 crore to Rs 3,755 crore for the third quarter, up by 26 per cent. EBITDA stood at Rs 1,527 crore, growth of 76 per cent over the corresponding quarter last year. EBITDA margin expands to a record 41 per cent from 29 per cent, with strong contributions across all businesses – Personal, Global and Enterprise.

Anil Dhirubhai Ambani, chairman, Reliance Communications Limited, said, “We have delivered another quarter of strong revenue and EBITDA growth across all our business segments. This performance has lifted the company into the select group of companies with annualized EBITDA of over Rs 5,000 crore EBITDA margins above 40 per cent, Shareholders Equity of over Rs 20,000 crore , and a Stockmarket Value of nearly Rs 94,000 crore.”

Reliance Communications added a record 4 million wireless customer (net) during the current quarter, compared with 2.1 million in the corresponding quarter the previous year. At end-December 2006, the company had over 30 million wireless customers on its network, representing a market share of 20.5 per cent of the All India wireless market.

The number of access lines increased to 530,000 in Q3 FY2007 from 217,000. Leveraging the 20,000 kms of metro fiber optic cables, the number of buildings directly connected to the Reliance network increased by 110,000 in the past quarter to 379,000.

© CyberMedia News

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