Sweet Music

Telecom operator Suntel has posted a 451 percent growth in net profits for the first six months of this year, largely aided by a gradual drop in interest rates.
The countrys second wireless operator said its net profits topped Rs.
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193 mn as against Rs. 35 mn reported in 2002.rn

rnBut revenues dipped 2.7 percent to Rs. 1.685 bn, earnings before interest, tax, depreciation and amortisation slipped 4.

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3 percent.rn

rn"The flat growth reflects a decrease in international revenue streams following the opening up of international operations in March 2003 and also reflects a constant tariff structure since April 2002," Suntel told debenture holders.rn

rnWhile fully backing the governments deregulation process, Suntel is urging authorities to enforce a strong regulatory environment to manage the liberalisation process.rn



Suntel financial highlights for the yearrnending June 30, 2003

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