Net profit up 8.3% y-o-y for RCOM in first quarter

3 Aug 2009

Indian telco Reliance Communications (RCOM) has released its financial results for the three months ended 30 June 2009, revealing an 8.3% year-on-year rise in net profit. RCOM posted net profit of INR16.37 billion (USD342 million) for its first quarter of the 2009-10 fiscal year, compared to INR15.12 billion a year earlier. Revenue for the three-month period increased 15.5% y-o-y to INR61.45 billion, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose to INR24.52 billion, up 8.9% against the same period a year earlier. Commenting on the results, Anil Dhirubhai Ambani, RCOM’s chairman, said: ‘Successful commercial launch of nationwide GSM services and other new initiatives across all our businesses helped to drive profitable and sustainable growth at RCOM.’

India, Reliance Communications (RCOM)