Mukesh Ambani-led Reliance Industries Limited reported its highest ever quarterly net profit of USD 1.6 billion (Rs 11640 crore). Reliance released its unaudited financial results for Q3 that ended on December 31, 2019. RIL released a statement and said that it has seen an increase of 13.5 per cent in its profit. Realiance Jio has shown a massive spike with 62.5 per cent jump in its profit
"Jio has continued on its unprecedented growth journey receiving overwhelming customer response for best in class mobile connectivity services. Jio is also determined to redefine the wireline infrastructure, home entertainment and enterprise market in India with its FTTx services which bundle best-in-class connectivity with bouquet of digital content and services," RIL Chairman and Managing Director Mukesh Ambani said in a statement.
Reliance Jio recorded an increase of 28.3 per cent in its operating revenue at Rs 13,968 crore as compared to Rs 10,884 crore in the year-ago period.
Here are the highlights of RIL financial results for 3rd quarter:
- RIL's consolidated cash profit increased by 10.7% to 18,511 crore (USD 2.6 billion)
- Reliance Jio Infocomm Limited (Jio) a revenue increase of 28.2% to Rs 16,517 crore (USD 2.3 billion)
- Subscriber base of Reliance Jio has shown a massive spike of 32.1% (Year on year)
- As of December 31,2019 Reliance Jio had 370 million subscribers
- There was a traffic of amounting to 1208 crore GB on Reliance Jio networks
- Reliance Retail Ventures limited reported revenue increase of 27.4% amounting to Rs 45,327 crore (USD 6.3 billion)
- Cash Profit of RRVL saw a massive increase of 87.5% to Rs 2274 crore (USD 0.3 billion)
- RRVL's net profit has doubled as it has shown an increase of 102.4% to Rs 1,757 crore (USD 0.2 billion)
- RIL said that it has signed a "definitive agreement" with British petroleum to form new Indian fuels and mobility venture
- The capital expenditure for the quarter ended 31st December, 2019 was ` 14,015 crore ($ 2.0 billion) including exchange rate difference.