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Mumbai: Anil Dhirubhai Ambani-led Reliance Communications (RCOM) Wednesday announced a 70.8 percent rise in net profits for the year ended March 31 to log Rs.54.01 billion ($1.35 billion), against Rs.31.64 billion ($717 million) for the year before.
The company also announced that its GSM mobile services will roll out over the next 12-18 months.
Reliance Communications - India's largest mobile phone company in CDMA segment - said its revenues grew 31.8 percent to Rs.190.68 billion ($4.77 billion), against Rs.144.68 billion ($3.28 billion) for 2006-07.
The company's board has recommended a dividend of 15 percent to its two million shareholders.
"Reliance Communications had a record year and we are confident of improved performance in the future," chairman Anil Ambani told reporters here Wednesday, while speaking about the annual audited results.
Ambani also said that the company has aggressive expansion plans in the GSM segment. At present, it provides GSM mobile services in 7 of India's 23 circles.
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