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Reliance Jio Infocomm, the telecom subsidiary of Reliance Industries, on Friday reported a 15.4 percent quarter-on-quarter increase in net profit at Rs 4,173 crore for the quarter ended March, said reports.
The company’s revenues for the quarter grew 8 percent sequentially to Rs 20,901 crore, which was higher than a CNBC-TV18 poll of Rs 20,800 crore.
The company reported higher-than-expected revenues, gaining from industry-wide tariff hikes last year. India’s largest telecom operator reported earnings before tax, depreciation, and amortisation (EBITDA) at Rs 10,510 crore versus an expectation of Rs 10,500 crore. The EBITDA margin comes at 50.3 percent percent versus the poll reading of 50.5 percent.
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