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Reliance Communications Q3 net up 2.7 pct

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CIOL Bureau
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NEW DELHI,INDIA: Reliance Communications, India's No. 2 mobile operator, on Friday reported a 2.7 percent rise in quarterly profit, slightly missing expectations, as its network expansion costs weighed.

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The Mumbai-based company said net profit rose to 14.10 billion rupees ($286 million) for its fiscal third quarter ended December, from 13.73 billion reported in the year-ago quarter.

Revenue rose to 58.50 billion rupees from 47.76 billion rupees reported in the year-ago quarter.

A Reuters poll of 12 analysts polled by Reuters had expected net profit of 14.18 billion rupees on revenue of 59.53 billion.

Reliance added 5.3 million mobile users during the quarter to take its total to 61.3 million users at the end of December, up about 50 percent from a year earlier. ($1=49.3 rupees) .

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