New Delhi: Net 4 India Ltd, a provider of Internet services and solutions, reported quarterly revenue of Rs 7.25 crore for the quarter ended December 31, 2002 (third quarter). The quarterly net profit stood at Rs 49.75 lakh, an impressive 181 per cent growth as compared to same quarter last year.

"We have managed a sustained quarter over quarter growth for past three years. We saw 181 per cent growth in our net profits this quarter over same quarter last year, which is more than a good sign, at a time when the Indian Internet industry witnessed the worst time in the last four years. We continued to invest in our infrastructure for ISP and Internet telephony services and this has helped us gain significant customer confidence and subscriber base in the last quarter," Net 4 India chief executive officer Jasjit Sawhney said.

"Moving forward, our focus will be to tap the potential of $ 1.5 billion ISD market in India which is expected to grow by 25 per cent CAGR over the next five years. A sizable percentage of this market is expected to be on IP," he said talking about Net 4 India's plans for the year 2003.