Reliance Communications has registered a 23.9 per cent rise in net profit to Rs 1512 crore for the quarter ended 30th June 2008 as compared to a net profit of Rs 1220 crore in the corresponding quarter of 2007.
The revenue of Reliance Communications grew by 23.7 per cent for the first quarter of the financial year to Rs 5322 crore as compared to Rs 4304 crore in the same quarter of the previous year. The EBITDA rose to 42.3 per cent from 42.2 per cent in the first quarter of last year.
Anil Ambani, chairman, Reliance Communications said, "The company will be investing an aggregate of Rs 40,000 to Rs 50,000 crore between FY08 and FY09, the full benefits will flow through the next year onwards, leading to significant acceleration in earning's growth."