RCom Q1 net profit rises 8.3% to Rs 1,637 crore

RelianceTelecom major Reliance Communications (RCom) has registered 8.3% jump in its consolidated net profit for the first quarter ended June 30, 2009. The consolidated net profit of the company rose to Rs 1,637 crore, as compared to Rs 1,512 crore recorded during the same period of previous financial year.

According to the company, the net profit recorded in the said quarter is after adjustment of share of minority interest and associates.

In a consecutive manner, company's total income grew by 15.5% to Rs 6145.18 crore, as against Rs 5,322.17 crore during same period a year ago.

RCom's EBITDA has witnessed a jump by 9% at Rs 2,453 crore, while EBITDA margin was stable at 40 per cent.

The sources said that company's market share surged to 23% from the earlier 18%, following its GSM launch.

While commenting on the results, RCom Chairman Anil Ambani stated, "Successful commercial launch of nationwide GSM services and other new initiatives across all our businesses to drive profitable and sustainable growth at Reliance Communications."

As per reports in media, RCom's major corporate developments for the reporting quarter included Rs 10,000 crore telecom infrastructure sharing pact with Etisalat DB, joint venture with Kribhco for a rural foray and company's joint venture with Alcatel-Lucent completing one year of operations.