RelCom Q2 net up by 86 p.c.

MUMBAI: MUMBAI: Reliance Communications Limited (RelCom) has posted net profit of Rs 1,305 crore for the second quarter ended on 30 September 2007, up by 86 per cent compared to net profit of Rs 702 crore posted during the corresponding quarter previous year.

The company's revenue grew 30 per cent at Rs 4,579 crore from Rs 3,526 crore posted during the corresponding quarter previous year.

The company's EBITDA stood at Rs 1,962 crore, growth of 46 per cent. EBITDA margin expands to 43 per cent from 38 per cent, with continued expansion in profitability across all businesses, wireless, global and broadband.

Anil Dhirubhai Ambani, chairman, Reliance Communications Limited, said, "RelCom has emerged as the most profitable telecom company in India with ARPU amongst the top two and the highest average MOU in the country. We are committed to the world's largest telecom network roll-out this year that will enable us to cover 23,000 towns and 600,000 villages."

"In addition, we will now launch nationwide GSM services within a year of receiving spectrum. We are committed to support strong tele-density growth in India and will be at the forefront of affordable connectivity to 500 million Indians by 2010," he added.