Reliance Communications clocks a net profit of Rs 1,000 cr

Mumbai, Apr 30 (UNI) Anil Ambani-owned Reliance Communications has posted a net profit of 612 per cent at Rs 1,000 crore for the financial year 2006-2007 and has announced a 10 per cent dividend for its shareholdes.

The company also plans to float a new Reliance vertical - Reliance Telecom Infrastructure Ltd, which will be specifically aimed towards setting up another eight thousand in addition to 12 thousand exsisting towers.

For the current quarter, the company registered an Average Revenue Per User (ARPU) of Rs 372.

Announcing the results, Anil Ambani, Chairman of the group, said ''In the beginning of the year when there were complete restructuring of the Reliance empire we faced several challenges and despite that the company has done exceedingly well.'' More UNI