Reliance Industries' Jio makes profit for third straight quarter

(Reuters) - Reliance Industries Ltd's telecom unit Jio reported a third straight quarterly net profit, as its cut-price plans continued to bring in more customers.

Reliance Jio Infocomm Ltd, or Jio, posted a profit of 6.12 billion rupees ($89.15 million) in the quarter ended June 30, versus 5.10 billion rupees in the previous quarter.

Reliance Industries' profit on a standalone basis - which includes the Indian oil-to-retail conglomerate's refining, petrochemicals and oil and gas exploration and production businesses - was 88.20 billion rupees versus 81.96 billion a year ago. The standalone number excludes retail and telecom operations.

That compared with an average estimate of 86.43 billion rupees from 10 analysts, according to Thomson Reuters I/B/E/S.

 

($1 = 68.6500 Indian rupees)

(Reporting by Krishna V Kurup in Bengaluru; Editing by Himani Sarkar and Adrian Croft)