Neotel had achieved its first pretax profit since it was launched seven years ago, chief executive Sunil Joshi reported yesterday.
Revenue grew 21 percent year on year for the six months to September, the converged telecommunications network operator announced.
The privately held company, which is majority owned by Tata Communications, does not disclose absolute figures.
Joshi said Neotel’s revenue growth was between 12 and 15 times the 1.4 percent compounded annual growth rate for fixed-line providers.
Earnings before interest, tax, depreciation and amortisation jumped into positive territory.
Business customers grew by 24 percent to top 150 000 clients. The small enterprise and retail segment increased by 27 percent from about 3 000 businesses.
Joshi could not comment on discussions with cellular operator Vodacom, which has made a takeover bid for Neotel. He said only that a process had been launched to look into obtaining the necessary competition, regulatory and other approval for such a deal. – Asha Speckman