By IANS,
Mumbai : Reliance Communications (R-Com), part of the Anil Dhirubhai Ambani Group, has posted a net profit of Rs.1,637 crore ($342 million) for the quarter ended June 30 as against Rs.1,512 crore in the like period last year, a growth of 8.3 percent.
The company’s total income surged 15.5 percent to Rs.6,145 crore from Rs.5,322 crore, it said in a regulatory statement.
“Successful commercial launch of nationwide GSM services and other new initiatives across all our businesses have helped drive profitable and sustainable growth at Reliance Communications,” company chairman Anil Ambani said in the statement.
During the quarter, Reliance Infratel (RITL), a subsidiary of R-Com, signed a long-term agreement with the United Arab Emirates (UAE)-based Etisalat DB for sharing telecom infrastructure.
The agreement for sharing of end-to-end tower and transmission infrastructure is expected to enhance R-Com’s revenue by Rs.10,000 crore.