RCOM third quarter profit up 49%

Reuters India is reporting that Reliance Communications (RCOM), India's second largest wireless network operator, has announced a 49% increase in net profit for the three months ended 31 December 2007 to INR13.73 billion (USD348 million) from INR9.24 billion a year earlier. Reliance, which had nearly 41 million wireless customers at end-December, said net sales rose to INR47.76 billion.