“The Mukesh Ambani-promoted Reliance Jio recorded net profits of Rs 2,964 in FY19, compared with Rs 723 crore in FY18”
Reliance Industries on Thursday reported a record net profit of Rs 10,362 crore in the March quarter as robust revenue from retail and telecom businesses offset weaknesses in the core oil refining and petrochemical segment.
Its net profit in January-March, at Rs 10,362 crore, or Rs 17.5 a share, was 9.8 per cent higher than Rs 9,438 crore, or 15.9 per share, in the same quarter a year earlier, the company said in a statement.
RIL’s revenue rose 19.4 per cent during the year to Rs 154,110 crore.
The Mukesh Ambani-promoted Reliance Jio Infocomm posted a net profit jump of 310 per cent year-on-year in FY19 — from Rs 723 crore in FY18 to Rs 2,964 crore. Its net profit during the January-March quarter of 2019 stood at Rs 840 crore, compared with Rs 510 crore during the same quarter a year earlier — a rise of 64.7 per cent.
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.source:www.business-standard.com
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