Rcom clocks a net profit of Rs 1221 crore

Mumbai,July 31 (UNI) The country's second largset private telecom operator, Reliance Communications Limited (RCOM) registered a 138 per cent increase in net profit at Rs 1,221 crore for the first quarter of the current financial year compared to Rs 513 crore for the corresponding period of the previous year.

The company posted a revenue growth of 32 per cent at Rs. 4,304 crore from Rs. 3,250 crore previous year.

Commenting on the results, Mr Anil Dhirubhai Ambani, Chairman, Reliance Communications Limited, said,''We have also made substantial operational progress. We have embarked upon the world's largest telecom network roll out this year. Its completion by the end of the fiscal year will see the coverage of our wireless network expand to 23,000 towns and 600,000 villages''.

During the quarter, the telecom major added 3.87 million subscribers representing a market share of net additions of almost 20 per cent . In the licensed areas, where they operate both CDMA and GSM services, market share of net additions was 32 per cent.

In the handset segment, company sold record 5 million handsets in the low priced segment during the quarter.

RCom added almost 4 million wireless customers during the quarter, compared to just over 2 million in the corresponding quarter last year.

The company accelerated its market share of net wireless customer additions to nearly 20 per cent during the quarter.

The company registered an average revenue per user (ARPU) at Rs.

375 per month on the back of higher realizations per minute.

During the quarter Rcom acquired a US based data communication company YIPES at Rs 1200 crore in all cash deal.

On the other hand RCom sold 5 per cent of the equity share capital of its fully-owned tower company, Reliance Telecommunications Infrastructure Limited (RTIL).

UNI