Reliance Communications, Vodafone unit boost India’s telecom outlook

November 16, 2013

vodaHigher call tariffs and reduced competition helped two of country’s biggest telecom firms to boost quarterly results, underscoring the recovery in the world’s second-biggest mobile phone market by subscribers. Reliance Communications Ltd, the market’s fourth-largest carrier and controlled by billionaire Anil Ambani, smashed estimates with quarterly net profit more than doubling before a one-time gain.
Vodafone’s unlisted Indian unit, the country’s No.2 cellular operator, said it would increase investment in its mobile data networks, after reporting quarterly revenue rose 13.3 per cent. Vodafone India also said the country’s regulatory environment, which has been a major drag, was gradually improving. =””>Source

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