RIL reports 8.8% rise in Oct-Dec quarter net profit at Rs 10,251 cr

Its revenue rose by 56% to Rs 171,336 cr in the third quarter

Reliance Industries Ltd (RIL) on Thursday reported an 8.8 per cent growth in consolidated net profit to Rs 10,251 crore for the third quarter (Q3), up from Rs 9,420 crore for the same period in the previous year.   

RIL is the first Indian private company to post Rs 10,000 crore profit in a quarter. Its revenue rose by 56 per cent to Rs 171,336 crore in the third quarter of the current financial year, the company said in a statement.   

Meanwhile, Reliance Jio posted a Q3 net profit of Rs 831 crore, up by 22.1 per cent quarter-on-quarter.

According to CNBC-TV18, RIL Chairman Mukesh Ambani said that Jio's journey has been "truly remarkable" and it has "surpassed all expectations". At present, Jio has 280 million subscribers and is growing on one of the world's largest mobile data networks, he added.