RIL net up 25% to Rs 9,423 cr

New Delhi, January 19

Reliance Industries (RIL) today reported a 25% jump in its third quarter net profit on the back of higher refining margins and its telecom arm Jio logging profit in its second quarter of operations.

Consolidated net profit in October-December stood at Rs 9,423 crore while standalone earning was up 5.4% at Rs 8,454 crore, the company said in a stock exchange filing.

The firm earned $11.6 on turning every barrel of crude oil into fuel in the quarter.

Into its second quarter of commercial operations, Jio posted a 12% rise in revenue in October-December as compared to the previous quarter.

Jio, the world's largest and fastest growing mobile data network, had a subscriber base of 160.1 million at the end of December.

Total wireless data traffic during the quarter stood at 431 crore GB while total voice traffic during the quarter was 31,113 crore minutes. PTI

Stellar performance

• It earned $11.6 on turning every barrel of crude oil into fuel as against a gross refining margin of $10.8 in the same period last year

• The company’s revenue was up 30.5% at Rs 109,905 crore in the quarter under review

• The quarter also saw Reliance post record consolidated pre-tax profit of Rs 13,789 crore, up 44.8% from last year

• Cash in hand was also marginally higher at Rs 78,617 crore as compared to Rs 77,014 crore on September 30, 2017