RIL Q3 net rises 25% to Rs 9,423 cr; Jio posts profit

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

Reliance Industries on Friday reported a 25 per cent 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 per cent 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 per cent rise in the revenues in October-December when compared to the previous quarter.

EBITDA jumped 82.1 per cent quarter-on-quarter to Rs 2,628 crore and the net profit stood at Rs 504 crore.

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.

Photograph: Punit Paranjpe/Reuters