Reliance Industries released its results on Friday. The company's consolidated net profit for the third quarter ended December 31, 2019, increased by 13.5 % to Rs 11,640 crore. The company has benefited from the increase in its retail and telecom sector customers. Apart from Reliance Industries' net profit of Rs 11,640 crore in October-December, compared to Rs 10,251 crore in the same period a year ago. The company said in a statement that consolidated revenue fell 1.4 % to Rs 168,858 crore. The company's retail business EBITDA grew by 58 % to Rs 2,389 crore, although Jio made a net profit of Rs 1,350 crore.
Reliance Jio's profit increased to 62.5 % in the third quarter. Jio made a net profit of Rs 831 crore in the same quarter a year ago. The company registered a 28.3 % increase in its operating revenue to Rs 13,968 crore as against Rs 10,884 crore in the year-ago period. On December 31, 2019, Reliance Jio's subscriber base grew by 32.1 % to 37 crores on a year-on-year basis and the average revenue per user during the quarter was Rs 128.4. Total wireless data traffic on its network increased from a 39.9 year-on-year basis to 1,208 million GB during the quarter and voice traffic jumped 30.3 % to 82,640 million minutes during the quarter.
Q3 FY2019-20's record quarterly PBDIT grew by 9.6% over the previous year to 26,088 crores ($ 3.7 billion). Q3 FY2019-20 Consolidated segment EBITDA was at a record Rs 23,500 crore. This is 1.4% higher than the previous quarter, with Reliance's third quarter consolidated revenue of Rs 168,858 crore ($ 23.7 billion). This is 1.4% less than the previous year. Gross refining margins for the third quarter were at an all-time high of $ 9.2 per barrel in the past 11 years. The same Reliance GRM was significantly higher than Singapore's GRM $ 7.6 per barrel, a 35.7% increase in the consumer electronics, fashion & lifestyle and grocery sectors saw Reliance Retail's strong growth in revenue, Reliance Retail now has 11,000 stores with the total area is 2 crore 63 lakh square feet, in the last 12 months, Jio has added 13.57 million customers.