RComm Q4 net zooms 55%, Rs 10k cr capex announced

New Delhi/ Mumbai, Apr 30 (UNI) Anil Ambani-owned Reliance Communications Ltd (RComm) today posted a net profit of Rs 1,024 crore during Q4FY07 and announced a capital expenditure of Rs 10,000 crore for 2007-08.

The revenues of India's third largest telecom company went up 33 per cent to Rs 3,937 crore for the fourth quarter ending March 31, 2007 as compared to the same period a year ago.

RComm declared a maiden dividend of 10 per cent involving an outlay of Rs 120 crore with its net worth going up to Rs 22,390 crore, the RComm Chairman said at a press conference in Mumbai.

Buoyed with a subscriber base of over 30 million during 2006-07, he said the company will list its two subsidiaries -- Flag and Reliance Telecom Infrastructure Ltd (RTIL) -- over the next six months.

RTIL will be specifically aimed towards setting up 8,000 towers in addition to its existing 12,000 towers.

''We are investing for the future. As and when the government announces its policies on spectrum availability, we will host GSM, CDMA, 3G and WiMAX. We have a large market share and would like to maintain that in the next fiscal,'' he said in a video conference here.

During 2006-07, the company registered a whopping 612 per cent increase in net profit at Rs 3,163 crore while its revenues went up 34 per cent at Rs 14,468 crore.

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