India’s Reliance reports 9.8pc jump in profits

  • News Digest

Apr 20, 2019-

MUMBAI: Indian conglomerate Reliance Industries on Thursday reported a 9.8 percent rise in consolidated net profit boosted by strong revenues from its telecom venture Jio and retail business. The Mumbai-based company owned by Asia’s richest man, Mukesh Ambani, said consolidated net profit for the three months through March rose to 103.62 billion rupees ($1.49 billion) from 94.38 billion rupees a year earlier for the same quarter. “Focus on service and customer satisfaction led to higher numbers of subscribers and footfalls across our consumer businesses, driving robust revenue growth,” Reliance chairman Mukesh Ambani said in a statement. The company has business investments in refining, retail, telecommunications and petrochemicals. (AFP)

Published: 20-04-2019 10:17

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