Tulip Telecom Q1 net up 63% at Rs 75 cr

Enterprise communications services provider Tulip Telecom today said its consolidated net profit has increased by 63.25 per cent to Rs 75.04 crore for the first quarter ended June 30, 2009.

The company had a net profit of Rs 45.97 crore in the corresponding quarter a year ago.

"The growth has been led by changing strategies. Apart from network integration, we have focussed on bandwidth and the fibre-based business," Tulip Telecom Chairman and Managing Director Col H S Bedi told PTI.

The total income increased to Rs 470.05 crore in the June quarter of 2009 from Rs 334.61 crore in the corresponding year-ago period, up 40.47 per cent.

On a standalone basis, the telecom firm posted a net profit of Rs 75.07 crore as compared to Rs 45.98 crore in the samequarter last fiscal.

Commenting on the outlook for the year ahead, Bedi said the environment looked good. "We have just tapped 18 per cent of the data market and now it is time to expand this."

The company also plans to expand its fibre network across the country.

"We are looking at expanding our fibre network to a total 100 cities this fiscal and these would be class C-cities as we already have the metros covered," Bedi said adding that the company has already deployed fibre network across 10 cities.

The roll out is at final stages in Delhi and Mumbai, and is currently in progress in eight other major towns.