Tulip Telecom announces results
Enterprise communications solutions provider Tulip Telecom Limited reported a 58.9 per cent increase in its second quarter profit from Rs 490 million as of September 2010 to Rs 780 million for the quarter ended September 2010.
The company posted revenues of Rs 5.85 billion for the quarter ended September 2010 against Rs 4.91 billion in the corresponding quarter previous year, marking an increase of 19.1 per cent. The company’s EBITDA margin stood at 27.9 per cent against 25.9 per cent in the corresponding quarter. This increase can be attributed to the improved contribution from fibre business and the increasing economies of scale.
Following the release, Sanjay Jain, chief executive officer, Tulip Telecom said, ?We are pleased to announce this healthy performance of the company. We are enthused with the operational and financial performance this quarter where fibre contribution to our top line continues to grow. We believe that we are on path of realising our goal of achieving maximum of our total revenues coming from the fibre segment by the end of FY2012. Further, we are proud to strengthen our services to other geographies like the US, Saudi Arabia.?
