Reliance Comm profit soar

MUMBAI: Riding on increased number of users and expanded networks,

CDMA-based mobile

services provider

Reliance

Communications Ltd has reported profit for the first quarter ended June 30.






According to the unaudited proforma consolidated financial results,


Reliance Communications has posted a net profit of Rs 513 crore, 105.2 per

cent up from the year-ago loss of Rs 250 crore.






This is an increase of 71 per cent from the previous quarter ended March 31.





The revenues rose 42 per cent to Rs 3,250 crore for the reporting quarter from
Rs 2,283 crore.






The EBITDA of the telecom major was of Rs 1,206 crore, up 658 per cent from Rs
159 crore reported for the corresponding quarter last year. Sequentially, this

is a growth of 15 per cent.






On the results, Anil Dhirubhai Ambani, chairman, Reliance Communications, said,
“I expect the strong business momentum to continue for the rest of the financial

year."






The BSE-listed company plans to be part of Nifty and CNX-100 Index from
September.






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