February 2021 \ News \ Q3 RESULTS
Rs 14,894 crore Q3 net profit for RIL

Reliance Industries Ltd (RIL) in January reported ...

BOX: Rs 3,489 crore Q3 net profit for Reliance Jio

Telecom major Reliance Jio Infocomm in January reported a 15.5 per cent growth on a quarter-on-quarter basis in its consolidated net profit for the quarter-ended December to Rs 3,489 crore. During the July-September quarter, the company’s net profit stood at Rs 3,020 crore. The telecom major’s operating revenue during the period under review stood at 19,475 crore, higher by 5.3 per cent on QoQ basis, the company said in a statement. “India is today among the leaders driving the Digital Revolution in the world,” said Mukesh Ambani, Chairman and Managing Director, RIL. “In order to maintain this lead, Jio will continue to accelerate the rollout of its digital platforms and indigenously developed next generation 5G stack and make it affordable and available everywhere. Jio’s 5G service will be a testimony to the vision of Atma Nirbhar Bharat. “Jio is determined to make India ‘2G-mukt’, thereby empowering every Indian to have an affordable smartphone and be a part of the digital and data revolution. We invite and encourage all stakeholders to work together to make world-class digital services available to every Indian consumer at the most affordable prices,” he added.

 According to the RIL CMD, in line with this vision, the company’s oil-to-chemicals (O2C) business has formally reorganised its reporting segments to reflect a new strategy and management matrix for this enterprise. “The reorganised structure will facilitate holistic and agile decision making and enable us to pursue attractive new opportunities for growth, with strategic partnerships with the best and the biggest in this business globally,” he said. Besides, he said the O2C platform will increasingly move further downstream and become closer to customers. “It will create planetfriendly and affordable energy and materials solutions to meet the growing needs of every sector of the Indian economy,” Ambani said.