Ericsson India revenue ups 38 per cent

Swedish telecom gear maker Ericsson has posted a 38 per cent surge in its India business to report first quarter revenue of 3.2 billion Swedish kronor or $ 531 million. The company's revenue for the smae quarter in the previous fiscal was 2.3 billion Swedish kronor (SEK). Sequencially, it's revenue increased 11 per cent for India.

The company has attributed this surge to the 3G deployments and related developments in the country. "Growth was driven by 3G deployments also comparing to low level investments during first half of 2010 awaiting 3G licenses," the company said in a statement.

Over all, the company's net profit grew by more than 200 per cent to post a revenue of 4.1 SEK billion for the quarter ended March 31, 2011. For the smae period last fiscal, the company's revenue was 1.3 SEK billion.

Ericsson's sales in the first quarter rose to 53 SEK billion from 45.11 SEK billion in the year-ago period.

"Group sales in the quarter increased by 17% year-over-year driven by continued strong demand for mobile broadband and especially for the multi-standard radio base station," Ericsson President and CEO Hans Vestberg said in the statement.

Sales in the company's network equipment business surged 35% year-on-year, buoyed by robust growth in mobile broadband devices in five of its ten main markets such as the US, India, Japan, South Korea and Russia.