The Reliance Infocomm Limited President Mukesh Ambani has announced the profit details of RIL. In a Bloomberg poll, nine analysts estimated the company's consolidated profit at Rs 84.96 billion against Rs 81.09 billion and seven analysts estimated revenue of Rs1.02 trillion against revenue of Rs 914.81 billion reported in the same quarter a year back. Analysts will watch out for more details on the performance of this segment.
Jio also said its subscriber numbers had reached 160.1 mln at the end of December, indicating that it added a whopping 8 mln users in December, higher than in any recent quarters. Turnover from the business grew 116.4 percent year-on-year to Rs 18,798 crore and earnings before interest and tax grew 110.8 percent to Rs487 crore.
Commenting on the stock movement, Tulsian said that I will not be surprised to see the share moving into four digits ahead of the Budget or maybe in the coming week. At a standalone level, nine analysts expect revenue at Rs 851.11 billion and 10 analysts expects net income at Rs 85.46 billion.
Excluding Jio and the retail businesses, RIL, with refining, petrochemicals and oil & gas as its flagship ventures, reported a profit of Rs 8,454 crore in Q3FY18, up 5% over Rs 8,022 crore in Q3FY17.
Reliance Industries (RIL) disclosed a good increase in consolidated net profit for the quarter ended December 2017.
Cash and cash equivalents as on 31st December 2017 were at Rs78,617 crore (USD 12.3 billion) compared to Rs77,226 crore as on 31st March 2017.
Gross Refining Margins (GRM) for 3Q FY18 stood at United States dollars 11.6/bbl as against USD 10.8/bbl in 3Q FY17.
Airtel India wireless business revenues have dropped by 22.2% year-on-year and 12.2% sequentially to Rs10,751 crore. Fittingly, this quarter marks the culmination of our petrochemical expansion projects and the first positive net profit contribution from our newest business line-Digital Services. Bharti Airtel had network operating costs of Rs 3,640 cr for its India business, including the wired broadband operation. With gross additions of 27.8 million during the quarter, Jio continues to have a dominant share of all the new LTE smartphones sold in the country. Total Income for the quarter rose 20.47% to Rs 1047.18 billion, compared with Rs 869.25 billion for the prior year period. PBDIT for Q3 2018 increased by 82.0 percent y-o-y to Rs 606 crore from Rs 333 crore.
The company said improvement in Kirana customer base, Kirana delivery process, value proposition and customer strategy has helped Reliance market deliver robust performance during the period.