NEW DELHI: Oil-to-telecom conglomerate Reliance Industries on Friday reported its highest quarterly net profit of Rs nine,423 crore on listing income from petrochemical industry and telecom unit Jio logging its first ever profit.
Consolidated net profit of Rs nine,423 crore, or Rs 16 consistent with percentage, in October-December was 25.1 consistent with cent higher than Rs 7,533 crore, or Rs 12.8 a percentage, in the same quarter of ultimate fiscal, the corporate said in a statement.
Jio, which with 160.1 million subscribers is the world's biggest and fastest rising cellular information network, turned certain "in only the second quarter of commercial operations", logging a net profit of Rs 504 crore, it said.
Reliance Jio Infocomm Ltd, or Jio, disrupted the telecom business with free voice and cut-price information in September 2016.
Jio, which began industrial operations in 2nd quarter with a loss of Rs 271 crore, has been blamed for falling profits of business peers. Bharti Airtel, the country's biggest telecom operator, the day gone by reported its seventh instantly quarterly decline in net profit.
Reliance said pre-tax make the most of petrochemical industry, where all enlargement projects have been finished, was at listing top of Rs five,753 crore in the 3rd quarter of the current fiscal.
The proprietor of global's biggest refining complicated earned $11.6 on turning every barrel of crude oil into fuel in October-December as towards a gross refining margin (GRM) of $10.8 in the same duration ultimate yr.
The GRM was, then again, lower than $12 recorded in the July-September quarter of the current fiscal.
Profit from the refining and advertising industry was marginally down at Rs 6,165 crore as compared to Rs 6,194 crore in Q3 of ultimate fiscal. In comparison to the former quarter (July-September), the phase profit was down 7 consistent with cent.
While its oil and gasoline industry logged a loss of Rs 291 crore, Reliance said its retail industry was the fastest rising in the country, with earnings and pre-tax income more than doubling to Rs 18,798 crore and Rs 487 crore, respectively.
Retail industry is then again but to make its first net profit.
The company's Chairman Mukesh Ambani said record-setting consolidated quarterly income marks the end result of petrochemical enlargement projects and the primary certain net profit contribution from newest industry line -- digital services underneath the Jio brand.
"Our refining business has delivered 12 consecutive quarter of double-digit refining margins, demonstrating operating excellence and healthy industry fundamentals," he said.
Also, benefits of the huge investments in petrochemical industry are starting to show with the phase reporting its highest ever income, he said.
"Jio's strong financial result reflects the fundamental strength of the business, significant efficiencies and right strategic initiatives," he said.
Revenue was up 30.five consistent with cent at Rs 109,905 crore.
The company's debt was marginally lower at Rs 213,206 crore on December 31, 2017 as compared to Rs 214,145 crore on the finish of previous yr. Outstanding debt as on March 31, 2017 was Rs 196,601 crore.
Cash in hand was also marginally higher at Rs 78,617 crore as compared to Rs 77,014 crore on September 30, 2017.
The quarter also noticed Reliance post listing consolidated pre-tax profit of Rs 13,789 crore, up 44.8 consistent with cent from ultimate yr, and highest ever standalone profit of Rs 8,454 crore, up five consistent with cent over the former fiscal.
Consolidated net profit of Rs nine,423 crore, or Rs 16 consistent with percentage, in October-December was 25.1 consistent with cent higher than Rs 7,533 crore, or Rs 12.8 a percentage, in the same quarter of ultimate fiscal, the corporate said in a statement.
Jio, which with 160.1 million subscribers is the world's biggest and fastest rising cellular information network, turned certain "in only the second quarter of commercial operations", logging a net profit of Rs 504 crore, it said.
Reliance Jio Infocomm Ltd, or Jio, disrupted the telecom business with free voice and cut-price information in September 2016.
Jio, which began industrial operations in 2nd quarter with a loss of Rs 271 crore, has been blamed for falling profits of business peers. Bharti Airtel, the country's biggest telecom operator, the day gone by reported its seventh instantly quarterly decline in net profit.
Reliance said pre-tax make the most of petrochemical industry, where all enlargement projects have been finished, was at listing top of Rs five,753 crore in the 3rd quarter of the current fiscal.
The proprietor of global's biggest refining complicated earned $11.6 on turning every barrel of crude oil into fuel in October-December as towards a gross refining margin (GRM) of $10.8 in the same duration ultimate yr.
The GRM was, then again, lower than $12 recorded in the July-September quarter of the current fiscal.
Profit from the refining and advertising industry was marginally down at Rs 6,165 crore as compared to Rs 6,194 crore in Q3 of ultimate fiscal. In comparison to the former quarter (July-September), the phase profit was down 7 consistent with cent.
While its oil and gasoline industry logged a loss of Rs 291 crore, Reliance said its retail industry was the fastest rising in the country, with earnings and pre-tax income more than doubling to Rs 18,798 crore and Rs 487 crore, respectively.
Retail industry is then again but to make its first net profit.
The company's Chairman Mukesh Ambani said record-setting consolidated quarterly income marks the end result of petrochemical enlargement projects and the primary certain net profit contribution from newest industry line -- digital services underneath the Jio brand.
"Our refining business has delivered 12 consecutive quarter of double-digit refining margins, demonstrating operating excellence and healthy industry fundamentals," he said.
Also, benefits of the huge investments in petrochemical industry are starting to show with the phase reporting its highest ever income, he said.
"Jio's strong financial result reflects the fundamental strength of the business, significant efficiencies and right strategic initiatives," he said.
Revenue was up 30.five consistent with cent at Rs 109,905 crore.
The company's debt was marginally lower at Rs 213,206 crore on December 31, 2017 as compared to Rs 214,145 crore on the finish of previous yr. Outstanding debt as on March 31, 2017 was Rs 196,601 crore.
Cash in hand was also marginally higher at Rs 78,617 crore as compared to Rs 77,014 crore on September 30, 2017.
The quarter also noticed Reliance post listing consolidated pre-tax profit of Rs 13,789 crore, up 44.8 consistent with cent from ultimate yr, and highest ever standalone profit of Rs 8,454 crore, up five consistent with cent over the former fiscal.
RIL Q3 net rises 25%; Reliance Jio posts profit
![RIL Q3 net rises 25%; Reliance Jio posts profit]()
Reviewed by Kailash
on
January 19, 2018
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