New Delhi: Reliance Communications (Rcom), Anil Ambani Group company, has recorded better than expected growth in the three months period ended September 30, 2007.

The leading CDMA player (Rcom) has registered 86% advancement in its net profit, which stood at Rs 1,304.5 crore for the second quarter of the existing fiscal.

The company’s net income, for the period under review, grew by 29.87% to Rs 4,578.5 crore.

Rcom has recently received authorization for commencing GSM services in the country. The company had paid up Rs 1,651 crore as licensing charge, and applied for the GSM range.

During the three months ended September 30, 2007, the company added 4.4 million wireless clients as against 3.5 million in the same period of the last year.

The company’s net Arpu (average subscriber-related revenues. per subscriber) was maintained at 79 paise in the second quarter, while the growth in rural segment remained upbeat.

In a statement, Anil Ambani, company’s chairman said, “The company has emerged as the most profitable telecom company in India with Arpu amongst the top 2 and the highest average minutes of usage in the country. We will launch the nationwide GSM services within a year of receiving spectrum.”

“Our network roll-out this year would enable us to cover 23,000 towns and 600,000 villages,” Mr. Ambani added.

During the quarter, the aggressive network expansion accelerated with Rs 5,300 crore capex.