Reliance Info nets Rs 215 crore in March 2005

Reliance Infocomm, the telecom venture of the Reliance group, has posted a net profit of Rs 215 crore in the quarter ended March 2005 as against the corresponding previous quarter's net loss of Rs 118 crore.

Revenue, during the fourth quarter of 2004-05, stood at Rs 1,659 crore, a 66 per cent growth over the comparable period of 2003-04. During the third quarter of 2004-05, revenue stood at Rs 1415 crore while net loss was Rs 6 crore.

During the financial year 2004-05, the company posted a net profit of Rs 51 crore against a net loss of Rs 390 crore in 2003-04. During the year, the company's revenue grew by 99 per cent to Rs 5,387 crore from Rs 2707 crore in 2003-04.

EBIDTA stood at Rs 1129 crore at the end of 2004-05 compared with Rs 160 crore in 2003-04. Cash profit grew by a whopping 522 per cent to Rs 996 crore from Rs 160 crore.

At an analysts meet today, the group flagship Reliance Industries mentioned that Reliance Infocomm has made a world record by having customers of 10 million within 19 months. Its one of the very few telecom companies in the world to post net profit within two years of operation, the company added.