The company's income from operations also increased 16.45 per cent to Rs 95,085 crore during the second quarter. While cash profit was at Rs 13,171 crore up by 27.8% yoy.
On a standalone basis, the company reported a net profit of Rs 8,265 crore, up 7.28 percent for the quarter ended September 2017, as compared to Rs 7,704 crore in the corresponding quarter a year ago. I am delighted to share that this includes the financial performance of Reliance Jio which had a positive EBIT contribution in its first quarter of commercial operations.
The results also reflected strong underlying fundamentals of refining and petrochemicals businesses, he added. "Sustained demand growth coupled with supply disruptions further tightened demand-supply balances globally during the quarter", Mukesh Ambani said in a statement released after the quarterly results. Capital expenditure was principally on account of ongoing projects in the petrochemicals and refining business at Jamnagar and digital services business. The telecom arm of Reliance posted a loss of Rs 270 crore.
On standalone basis, Reliance's profit increased 0.8 percent sequentially to Rs 8,265 crore and revenue rose 1.9 percent to Rs 71,761 crore in Q2.
"The strong financial results of Jio demonstrates the robust business model of Jio and the significant efficiencies that the Company has built through its investment in the latest 4G technology and right business strategy".
Key Highlights of Reliance Jio in Q2 were. While the net subscriber additions stood at 15.3 million, the total additions stood at 19.5 million subscribers for the quarter. This was due to increase in finance cost by 26% yoy.
"He added, ". We are confident that Jio will bring significant benefits to the Indian economy and the Indian customers and will take India to a much higher pedestal".
Debt: The outstanding debt stood at Rs 2,14,145 crore as of September 30 against Rs 1,96,601 crore as of March 31, 2017.
Cash and cash equivalents till Q2FY18 were at 77,014 crore ($ 11.8 billion) compared to Rs 77,226 crore as on 31st March 2017.