Reliance Communications claimed to post a stronger than expected financial results for the quarter ended 30 September, 2008, as it added a record number of subscribers.

It recorded 17 percent rise in quarterly profit to touch Rs. 15.31 billion for its fiscal second quarter ended September, from Rs. 13.05 billion, the year-ago quarter.

Its net profit grew by 15 percent to Rs 229.4 crore and total operating income rose by 38 percent to Rs 1,313 crore for the second quarter ended 30 September, compared with the year-ago period.

The company’s revenue climbed to Rs. 55.35 billion from Rs. 45.53 billion.

The company’s total assets stood at Rs22, 133 crore, while its earnings per share rose by 15 percent to Rs 9.34 during the quarter.

The total operating income rose by 34% to Rs 2, 856.30 crore in the first half of the current fiscal.

Reliance Communications is set to roll out a second nationwide network, extending the company’s reach in the country before new entrants start next year.

The operator added 5.1 million mobile users during the quarter to take its total to more than 56 million users at the end of September, up 55 percent a year earlier.

Reliance Communications rose as much as 18 percent in Mumbai trading.