RComm profits surge 55

Reliance Communications Ltd today declared a 55 per cent jump in net profits to Rs 1,024 crore for the fourth quarter ended March 31, 2007.

Reliance Communications Ltd RCL today declared a 55 per cent jump in net profits to Rs 1,024 crore for the fourth quarter ended March 31, 2007. Its revenue increased 33 per cent during the quarter at Rs 3,937 crore as compared to the same quarter in the previous year. For the financial year 2007, it registered a 612 per cent hike in net profit at Rs 3,163 crore while revenues went up 34 per cent at Rs 14,468 crore. It declared a maiden dividend of 10 per cent. It became the first private telecom operator to declare a dividend.

The company also announced that it will expand its GSM operations from eight circles to all over the country during this fiscal. However, this would depend on the availability of spectrum. RCL would need Rs 4,500 crore for the nationwide GSM roll-out. It would also be setting up 20,000 towers.

In the towers business, RCL chairman Anil Ambani said that an additional 20,000 towers would be added this year to its existing 12,000 towers. The towers would have the capability to handle all technologies like GSM, CDMA, WiMax and 3G. With the tenants paying the company a fee for using the towers, it would constitute another revenue-stream for the company, he said.

On the company8217;s DTH and IPTV plans, Ambani announced that they were on track and that a nationwide launch of DTH was in the offing by this year-end. 8220;IPTV will be first launched in the metros,8221; he said. On WiMax, the RCL chairman said that the company is fully committed to WiMax play or 4G play. Our tower infrastructure is planned for WiMax roll-out.8221; The company8217;s average revenue per user ARPU stood at Rs 377 in spite of rapid growth and entry into new towns. The ARPU in the fourth quarter of 2007 was Rs 372.

BANGALORE: IT firm MindTree Consulting has clocked a net profit of 90.05 crore during fiscal 2006-07, up 66.1 per cent over Rs 54.21 crore in the previous fiscal. The revenues increased by 31.5 per cent to Rs 590.35 crore in the year ended March 31 from Rs 448.80 crore last year. Earnings per share EPS grew by 44 per cent to Rs 29.

The firm8217;s IT services revenue grew by 30 per cent to Rs 445.88 crore and the revenue from R038;D increased by 37 per cent to Rs 144.46 crore.