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).Updated: Jan 18, 2019 00:08 IST
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.
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