India’s leading telecom company Reliance Communications Ltd has registered a 48.5% rise in the consolidated net profit for the third quarter ended December 2007. The main source for the increase was the strong growth in the wireless business. The company reported a rise of 4.6 million wireless customers during the quarter taking the total customer base of the company to 41 million.

The Company provides wireless, wireline, voice, data and internet communication services.

The company registered a net profit of Rs 1,373 crore against Rs 924 crore reported in the same quarter a year ago. Net revenues were up at Rs. 4,874 crore against the previous year of Rs. 3755 Crores. The revenue increase was around 30 %.

For RComm, the broadband business achieved maximum revenue growth of 44.4% at Rs. 456 crore as against the previous year figure of Rs. 316 crore. The company managed to increase around 70% customers in wireline access. The consumer base jumped to 9 Lakh at the end of the quarter compared to 5.3 Lakh for the same period last year. 

The Reliance Communications stock closed at Rs 601.95 down by 1.7% on the BSE. Indian Stock markets closed strong on Friday after registering loss for past few trading sessions.