Tulip Telecom has reported 5.3% fall in consolidated net profit at Rs 77.25 crore for third quarter ended in December. It had posted net profit of Rs 81.61 crore during the October-December quarter in the 2010-11 fiscal.
The company’s revenue during Q3 grew by 14% at Rs 686.6 crore, compared to Rs 602.57 crore the company posted for the same period in Financial Year 2010-11.
The decline in net profit is mainly due to increase in interest rate and depreciation of assets. However, for the nine month period we have registered 8.5% growth in our net profit. EBIDTA margin improved from 28.5% to 29% in the quarter.
The company expects to complete 1,200 km of National Long Distance (NLD) fibre between Mumbai and Chennai on schedule, and return on investment (RoI) after two years.
