Reliance Industries, the country's largest company in terms of market value, reported a profit of Rs 11,640 crore in the December quarter. With this, the profit of Reliance's telecom company Jio has increased by about 63 percent.
According to news agency PTI, the net profit of Reliance Industries increased by 13.5 per cent to Rs 11,640 crore for the quarter ended December 2019. The company's net profit in the same quarter of 2018-19 was Rs 10,251 crore. At the same time, there is a decline in the company's income. In the quarter, the company's revenue fell 1.4 per cent to Rs 168,858 crore. Reliance Industries' retail business of consumer goods grew 58 per cent to Rs 2,389 crore for the quarter ended December 2019.
Jio Net Profit of Rs 1,350 Crore
During this period, the net profit of Reliance's telecom unit Jio was Rs 1,350 crore. According to the company, Jio had a net profit of Rs 831 crore in the same quarter of the previous fiscal year. Talking about the number of customers of Reliance Jio, on an annual basis, in the quarter ended 31 December 2019, 32.1 percent has increased to 37 crore.
Mukesh Ambani, chairman of Reliance Industries, said in a statement, "Customers' enthusiasm for Jio's mobile connectivity services is unmatched. Jio is committed to redefining the market with its wireline infrastructure, entertainment and FTTX (Fiber Tour the various services based on optical fiber) services. '
Let us tell you that on Friday, Reliance Industries had a great performance in the BSE index and the company's stock has gained up to 3%. At the end of trading, the Reliance Industries share price closed at Rs 1580.65, up 2.79 percent.
