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Reliance industries report profit of Rs 10,251 crore for October-December quarter

Reliance’s Jio posted a nearly 65 percent jump in profit to 8.31 billion rupees ($117 million).

business Updated: Jan 18, 2019 00:08 IST
Agencies
Agencies
Reuters
Reliance Industries on Thursday posted a record quarterly profit, driven by growth in its petrochemicals and refining business, while its telecoms group Jio notched up a fifth consecutive profitable quarter.
Reliance Industries on Thursday posted a record quarterly profit, driven by growth in its petrochemicals and refining business, while its telecoms group Jio notched up a fifth consecutive profitable quarter.(Reuters File Photo)
         

Reliance Industries Ltd Thursday reported an 8.8 per cent rise in its October-December quarter net profit at Rs 10,251 crore compared to the year-ago quarter.

RIL is the first Indian private company to post Rs 10,000 crore profit in a quarter.

Its revenue rose by 56 per cent to Rs 171,336 crore in the third quarter of the current financial year, the company said in a statement.

Telecom operator Reliance Jio Thursday reported a jump of 65 per cent in its net profit to Rs 831 crore during the December 2018 quarter, mainly on account of a rise in customer base.

Also read: Reliance Jio’s subscriber base reaches 280.1 million

The company had recorded a net profit of Rs 681 crore in the corresponding period a year ago.

While average revenue per user of Reliance Jio continued to decline, the impact seems to have mitigated with a sharp increase in customer base to 28 crore by the end of December, from 16 crore in the year-ago period.

Reliance’s consolidated revenue grew 56.4 percent to 1.60 trillion rupees.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

First Published: Jan 17, 2019 19:30 IST

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