Reliance Industries Q1 net rises 6.8%; consumer businesses contribute a third of pre-tax profits

Reliance Industries Friday reported a 6.8% rise in consolidated net profit for the first quarter of the current fiscal as share of consumer businesses of retail and telecom rose sharply.

Net profit in April-June stood at Rs 10,104 crore while consolidated revenue rose to a record Rs 1,72,956 crore.

Consumer businesses, which till last year accounted for a quarter of the company's pre-tax profit, contributed 32% of EDITDA in Q1, the company said.

The Reliance Jio standalone revenue from operations is Rs 11.679 crore- a quarter to quarter growth of 5.2%. The subscriber base as on June 30 of 331.3 million. The Jio also recorded total wireless data traffic during the quarter of 1,090 GB crore and total voice traffic of 78,598 crore minutes, said the press release.

Retail business EBITDA crossed Rs 2,000 crore while telecom arm Jio posted a 45.6% jump in profits at Rs 891 crore. 

"Growth in Jio mobility services has continued to surpass all expectations. In less than two years of commercial operations, Jio network carried almost 11  Exabytes of data traffic during the recently concluded fiscal quarter," said Mukesh Ambani, Chairman of Reliance Industries.

(Inputs from PTI)