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

Source : https://www.hindustantimes.com

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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.