Reliance Jio posts Rs 510 crore profit in Q4

Reliance Jio posts Rs 510 crore profit in Q4

Reliance Jio posts Rs 510 crore profit in Q4

Jio has released a banner which indicates that customers will get M2S hotspot device under this offer. Though Jio saw a strong subscriber growth during the period, the range-bound profits could be explained by a fall in its average revenue per user which came in at Rs 137.1 per subscriber compared with Rs 154 in the preceding quarter.

According to the report, Reliance Jio recorded net profit of Rs 723 crore for the year 2017-18, which highlights the fact that Mukesh Ambani's dream project has indeed worked wonders and is now competing in the big leagues.

Reliance said pre-tax profit from petrochemical business, where all expansion projects have been completed, was at record high of Rs 6,435 crore in the fourth quarter of the 2017-18 fiscal, up 12 per cent over a year ago. As a result the net profit grew by 1.2 percent in the fourth quarter due to the quality of services offered and customers preferring it over other telecom operators and subsequently the balance sheet increased to a staggering Rs. 2.4 trillion rising by 11 percent. While fourth-quarter revenues jumped 134 per cent to Rs 24,183 crore, its EBIT jumped to Rs 1,086 crore from Rs 352 crore in the same period past year.

While its core petrochemical business posted record quarterly pre-tax profits, earnings from the oil refining business dipped on squeeze in margins.

The telco posted standalone revenue from operations of Rs 6,879 crore (11.9 percent over trailing quarter) and EBITDA of Rs 2,628 crore (82.1 percent over trailing quarter).

Reliance Industries in other sectors too saw rising profits in Q4 and it is believed that it might soon be part of the $100 Billion Dollar club with the petro-chemical and retails arms of the enormous conglomerate earning record net profits in this quarter of 2018.

RIL reported gross refining margin (GRM) of $11.0 per barrel for the quarter ended 31 March 2018.

Mukesh Dhirubhai Ambani's biggest start-up in the world Reliance Jio Infocomm Ltd, or simply Jio, had started returning profits a couple of quarters ago.

Airtel vs Reliance Jio: Which network is faster in India? In addition, Reliance will credit cashback worth Rs 2,220 to users in the form of JioCash. This indicates that makes around Rs 105 crore a day. Cash in hand was also marginally higher at Rs 78,063 crore as compared to Rs 78,617 crore as of December.

Related news

[an error occurred while processing the directive]