Reliance Jio's Q2 net profit climbs 12% to Rs. 5,058cr
What's the story
Reliance Jio Infocomm, a subsidiary of Reliance Industries, has announced a standalone net profit of Rs. 5,058 crore for the quarter ending September, representing a 12.10% year-on-year (YoY) growth. In comparison to the previous quarter, it climbed 4%. Its revenue from operations climbed to Rs. 24,750 crore, a 9.89% YoY rise. Quarter-on-quarter (QoQ) revenue increased by 2.94% from Rs. 24,042 crore.
What Next?
Lowest profit growth for Jio in past seven quarters
As more information about Reliance Jio's Q2 performance is expected to surface soon, the recent results signify the most modest profit growth for Reliance Jio in the past seven quarters. Shares of its parent company Reliance Industries settled 1.77% higher at Rs. 2,265.80 apiece on the National Stock Exchange (NSE).