Reliance Jio turns profitable, registers first net profit of Rs. 504 Crore

Reliance Jio turns profitable, registers first net profit of Rs. 504 Crore

Jio, which disrupted the telecom market with its dirt-cheap tariff plans after RIL invested over $30 billion, reported a profit despite a marginal drop in average revenue per user (ARPU).

At a consolidated level, RIL, which is the country's largest private sector firm, beat estimates with its net profit coming in at Rs 9,423 crore compared with Rs 7,533 crore in the same period previous year - a growth of 25 per cent. Analysts will watch out for more details on the performance of this segment.

Jio's total data consumption has increased by 14% compared to last quarter, whereas Airtel's has decreased.

Jio said that its consolidated value of services stood at Rs 8,136 crore, up 12.8 percent over trailing quarter and consolidated EBIT stood at Rs 1,441 crore, up 452.1 percent over trailing quarter.

Commenting on the stock movement, Tulsian said that I will not be surprised to see the share moving into four digits ahead of the Budget or maybe in the coming week.

As on December 31, 2017, RIL has a net debt of Rs 1,34,589 crore; and cash and cash equivalents of Rs 78,617 crore. Refining and petrochemicals businesses contribute 90% of the consolidated profit.

Fans pay tribute to Cranberries singer Dolores O'Riordan
A book of condolence was opened at Limerick City Hall earlier this week, while an online book is also available here. Officials said they are awaiting the results of "various tests", and the hearing was adjourned until April 3rd.

The owner of world's largest refining complex earned $11.6 on turning every barrel of crude oil into fuel in October-December as against a gross refining margin (GRM) of $10.8 in the same period previous year. "Fittingly, this quarter marks the culmination of our petrochemicals expansion projects and the first positive net profit contribution from our newest business line - digital services", Ambani said in an earnings statement issued on Friday after market hours.

The refining and marketing business saw revenue rise 23% to Rs 75,865 crore in the quarter that saw crude prices rise to a three-year high.

Against revenues of Rs 6,879 crore in Q3FY18, Jio has reported a net profit of Rs 504 crore, which is more than what any other telecom operator in India has achieved! The operating profit margin improved quarter-over-quarter to 38.2 per cent.

This is unedited, unformatted feed from the Press Trust of India wire.

With gross additions of 27.8 million during the quarter, Reliance Jio has given a tough competition to competitors like Airtel, Vodafone and Idea. Total Income for the quarter rose 20.47% to Rs 1047.18 billion, compared with Rs 869.25 billion for the prior year period.

PBDIT for 3Q FY18 grew by 82.0 percent on a YoY basis to Rs606 crore from Rs333 crore reported in the year-ago period. Reliance Retail witnessed stellar performance across all consumption baskets during the period.

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