By IANS
Mumbai : The Anil Dhirubhai Ambani Group’s Reliance Communications, India’s second-largest mobile telecom company, Thursday reported a 48.5-percent jump in its net profits for the quarter ended Dec 31.
The jump in net profit to Rs.13.728 billion ($345 million) from Rs.9.244 billion ($230 million) in the last fiscal beat forecasts, and the growth in profits was higher than the 42 percent jump reported by rival Bharti Airtel.
The company, which has a subscriber base of 41 million, also reported net sales of Rs.47.76 billion for the period under review as against 37.55 billion in the corresponding period of the previous year, to register a growth of 29.8 percent.
Despite the strong showing, the shares of the company fell on the Bombay Stock Exchange (BSE) and were down 2.18 percent at Rs.599, around 45 minutes before the end of trading.
The company provides communications services, covering mobile and basic telecom, broadband, national and international long distance and data services, besides custom-built value-added services.