Business News
Reliance Jio reports first ever net profit of ₹ 504 cr.
Into its second quarter of commercial operations, Jio posted a 12% rise in the revenues in October-December
Reliance Industries on Friday reported a 25 % jump in its third quarter net profit on the back of higher refining margins and its telecom arm Jio logging profit in its second quarter of operations. Jio reported its first ever net profit of ₹504 cr.
Consolidated net profit in October-December stood at ₹9,423 crore while standalone earning was up 5.4 % at ₹8,454 crore, the company said in a stock exchange filing.
The firm earned $ 11.6 on turning every barrel of crude oil into fuel in the quarter.
Into its second quarter of commercial operations, Jio posted a 12% rise in the revenues in October-December when compared to the previous quarter.
EBITDA jumped 82.1% quarter-on-quarter to ₹2,628 crore and the net profit stood at ₹504 crore.
Jio, the world’s largest and fastest growing mobile data network, had a subscriber base of 160.1 million at the end of December.
Total wireless data traffic during the quarter stood at 431 crore GB while total voice traffic during the quarter was 31,113 crore minutes.
