RCOM profit rises on booming base

3 Nov 2008

Reliance Communications (RCOM), India’s second largest wireless network operator, has reported an 18% increase in second quarter profit on the back of a record number of new customers. Net income for the three months ended 30 September 2008 climbed to INR15.3 billion (USD310 million) from INR13 billion a year earlier. The operator added 5.25 million wireless customers in the quarter to take its subscriber base to 56.05 million, giving it a market share of approximately 18%. Of the total, 46.84 million were connected to its CDMA network and 9.2 million to its newly established GSM infrastructure. At the end of September RCOM offered CDMA-based services in 20 of India’s circles and GSM in eight; it plans to increase its GSM coverage to 14 circles by the end of 2008, a move which it claims will make it the only player in the country to offer both GSM- and CDMA-based services on a national basis. In the broadband arena RCOM claimed to be offering high speed internet access services in 44 cities with close to 858,000 buildings connected directly to its network serving close to 1.26 million access lines.

India, Reliance Communications (RCOM)