Reliance Jio Turns Profitable in Less Than 18 Months
Bengaluru: Reliance Industries Ltd, India’s largest listed company by market value, said on Friday that its $30 billion telecom start-up Reliance Jio Infocomm Ltd has turned profitable less than a year and a half since its launch. Reliance Jio swung to a profit of Rs504 crore ($78.97 million) in the third quarter from a loss of Rs271 crore in the second quarter.
6/n Q3 FY2017-18 Positive net profit from digital services segment #Jio of Rs 504 crore #RILresults
— Flame of Truth (@flameoftruth) January 19, 2018
13/n Q3 FY2017-18 #Jio standalone revenue from operations at Rs 6,879 crore, up 11.9% q-o-q #RILresults
— Flame of Truth (@flameoftruth) January 19, 2018
Reliance Jio, launched late in 2016, sparked a price war in India’s cut-throat telecoms sector, driving down margins...