Neotel lifts revenue 10%

Neotel has reported a 10% rise in revenue for the half year ended September 2012, also highlighting its continued ebitda positive status since Q2 FY 2012.

The company’s interim results for the period ending September 2012 show a year-on-year increase of 10% and 276% in revenue and EBITDA respectively.

Sunil Joshi, CE0 at Neotel noted that the company lifted its business customers by 18% during the reporting period, increasing from 2,000 to 2,400 enterprise customers in the last six months.

Consumer customers improved 30% to 130,000, and free cash flow improved 49%, Neotel said.

According to Frost & Sullivan’s ICT research analyst Gladys Mujuru, Neotel looks set to meet its goal of surpassing last year’s subscriber increase of 50,000, should it continue to maintain the current momentum.

“With the recently introduced mobile dual number/SIM phone operating in their CDMA network, Neotel is looking to attract more clients with a product that is a consumer take on fixed mobile convergence,” Mujuru said.

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Neotel lifts revenue 10%