Reliance Comm Q3 net zooms 198% to Rs 924 cr

Anil Ambani group company Reliance Communications on Wednesday posted a 198 per cent increase in net profit at Rs 924 crore (Rs 9.24 billion) for the quarter ended December 31.

Revenues for the third quarter jumped by 26 per cent at Rs 3,755 crore (Rs 37.55 billion) as a record 4 million (40 crore) wireless subscribers were added during the same period, the company said.

The third largest mobile operator in the country reported a strong margin growth across all businesses with EBITDA margin witnessing 5 to 27 per cent growth in personal business (wireless), global business and enterprise business, it added.

Overall, Earnings Before Interest Tax Depreciation and Amortisation was up by 76 per cent at Rs 1,527 crore (Rs 15.27 billion) at the end of the quarter.