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RIL's Profit Crosses 10 Thousand Crore With 7% Growth, Support From Telecom-Retail Business

Reliance Industries registered a consolidated net profit of Rs 10,104 crore with an increase of 6.8 per cent during the quarter ended June, 2019. The consolidated revenue of the company rose to Rs 1,72,956 crore. The company owned by Mukesh Ambani got a lot of support from the growth in retail and telecom business.
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22% increase in revenues
According to the regulatory filings given by the company, during the first quarter of the financial year 2019-20, revenues rose 22.1 per cent to Rs 1,72,956 crore.

Reliance Jio profits up 45%
Talking about Reliance Jio, its net profits increased by 45.6 per cent during the April-June, 2019 quarter to Rs 891 crore. At the same time, Consumer Business contributed 32 per cent to RIT's Abitada. At the same time, the EBITDA of Retail Business went up to Rs 2000 crores.

11,607 crores paid in respect of GST
Operational revenue of the company reached 216 per cent growth at Rs 1,61,349 crore, compared to Rs 1,33,069 crore in the same quarter last year. However, before the GST cut, the company's revenues grew 21.2 per cent to Rs 1,72,956 crore. Thus, the company paid 11,607 crores in GST.

Total expenditure increased by 24 per cent to 1.50 lakh crore
During the quarter ended June 2019, the company's total expenditure also increased by 23.96 per cent to Rs 1,50,154 crore. In the same quarter last fiscal, his total expenditure was Rs 1,21,131 crore. Mukesh Ambani, CMD, Reliance Industries said that despite the weak global scenario, the company's income has been good in the first quarter.
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  1. Sadhana4 April 2020 at 03:42

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