RIL Q2FY18 profit jumps 12.5%
Reliance Retail, also part of the Mukesh Ambani-led group, reported a 81.3% annual jump in revenues at Rs 14,646 cr for the July-September quarter of fiscal 2018
Reliance Jio Infocomm, a subsidiary of conglomerate Reliance Industries, on Friday reported a net loss of Rs 270.59 crore on revenue of Rs 6,147 crore for the quarter ended July-September this year. This is the first time that Reliance Jio, a new entrant in the telecom space that has disrupted the industry with its free voice and low data prices, announced earnings since starting operations in September last year.
RIL posted a consolidated net profit of Rs 8,109 crore, a 12.5 per cent increase over the same period last fiscal, while revenues stood at Rs 95,085 crore with EBITDA of Rs 15,565 crore.
Reliance Retail, also part of the Mukesh Ambani-led group, reported a 81.3 per cent annual jump in revenues at Rs 14,646 crore for the July-September quarter of fiscal 2018. Despite macroeconomic headwinds including the rollout of goods and services tax (GST), the retail division registered a 68.2% increase in profit before depreciation, interest and tax (PBDIT) as compared to Rs 264 crore in the same period last fiscal.