Tulip Q2 net profit rises 35%

Delhi based enterprise communications service provider, Tulip Telecom, has reported 35.2 per cent rise in net profit for the second quarter ended 30 September, 2008. Profits for the company rose to Rs 50.15 crore as compared to Rs 37.08 crore in the corresponding quarter last year. For the same period, revenue for the company grew by 48.8 per cent on a year-on-year basis at Rs. 384.64 crore against Rs 258.48 crore in the corresponding quarter last year.

H S Bedi, chairman and managing director, Tulip Telecom said, “Tulip’s revenues continue to show robust growth in spite of the perceived slowdown in the industry. This is driven by the industry’s requirement to bring in greater efficiencies in their operations so that they can achieve greater efficiencies in their business.”

 

“Most such initiatives like implementation of enterprise resource planning, customer relationship management and video, among others, result in greater need for data connectivity,” he added.

The company also posted a basic earning per share of Rs 17.30 up 35.3 per cent over the previous fiscal.