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India’s Reliance Jio posts 13% rise in Q4 profit

BENGALURU (Reuters) – Reliance Jio Infocomm Ltd, the telecom arm of Indian billionaire Mukesh Ambani’s Reliance Industries Ltd, reported a 13% rise in fourth-quarter profit on Friday, led by the sustained growth in its user base.

Jio, India’s biggest telecom carrier by subscribers, said net profit rose to 47.16 billion rupees ($574.8 million) in the three months ended March 31, from 41.73 billion rupees a year ago.

Its revenue from operations climbed 11.9% to 233.94 billion rupees. ($1 = 82.0420 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.

Source: The Print

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