RCom net up 47 per cent to Rs 1,503 crore | business | Hindustan Times
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RCom net up 47 per cent to Rs 1,503 crore

However, Reliance Communications total revenue stood at Rs 5,311 crore, up 34.9 per cent from Rs 4,874.2 crore posted a year ago. HT reports.

business Updated: May 01, 2008 01:05 IST
HT Correspondent

Reliance Communications has reported a 47 per cent increase in profit at Rs 1,503 crore for the fourth quarter ended March 31, 2008, from Rs 1,372.9 crore posted a year ago.

Total revenue stood at Rs 5,311 crore, up 34.9 per cent from Rs 4,874.2 crore posted a year ago.

“We are planning to spend over Rs 25,000 crore for network expansion for the group. This will definitely increase the reach and provide better connectivity,” Reliance Communications Chairman Anil Ambani told reporters.

The company plans a nationwide rollout of its direct-to-home television services as well as cellular operations based on the global system of mobile communications this year. Reliance Communications has a cellular telephony network based on the code division multiple access technology platform.

For the entire financial year, Reliance Communications posted a net profit of Rs 5,401 crore, up 70.8 per cent from Rs 3,164 crore in 2006-07. Revenue grew by 31.8 per cent at Rs 19,068 crore.

Reliance Communications also planned to list its overseas arm, Reliance Globalcom, this year on the London Stock Exchange, Ambani said. Globalcom includes the submarine cable venture Flag and the recently acquired US ethernet service provider Yipes.

“We are waiting for favourable market conditions to list both Globalcom and Reliance Infratel,” he said. Reliance Infratel, the passive infrastructure arm of Reliance Communications, has already submitted its draft red herring prospectus to the Indian stock market regulator for the public offer.

However, Reliance Communications’ average revenue per user has fallen from Rs 339 to Rs 317. This decline brought down Reliance Communications shares from an intra-day high of Rs 594.7 to close at Rs 579.75, up 0.88 per cent from the previous close of Rs 574.7.

HDFC clocks 39 pc rise in net

Mumbai: Housing Development Finance Corporation (HDFC) today said the company had posted a net profit of Rs 768.12 crore for the quarter ended March 31, 2008, up 39 per cent from Rs 550.05 crore in the corresponding quarter of 2006-07.

The total income has increased from Rs 1,733.77 crore for the quarter in 2006-07 to Rs 2,320.21 crore in the fourth quarter of 2007-08.

For the year 2007-08 the company has posted a net profit after tax of Rs 2,436.25 crore, up 55 per cent from Rs 1,570.38 crore in 2006-07. Total income has increased from Rs 5,863.28 crore to Rs 8,196.06 crore.

DLF 2007-08 profit up 306 pc

New Delhi: Sitting on a huge cheap land bank, DLF, the largest realty player in the country, registered an eye-popping 306 per cent jump in net profit and 258 per cent rise in revenues in 2007-08.

Consolidated, the net profit of DLF increased to Rs 7,855.80 crore in 2007-08 from Rs 1,933.65 crore in the previous year. Its revenues also rose to Rs 14,494 crore from Rs 4,053 crore in 2006-07.

The company, in the fourth quarter, reported a net profit of Rs 21,76.82 crore on revenue of Rs 4,372.36 crore. Since the company was not listed in 2006-07, quarterly results for the previous financial year are not available.