Reliance Jio Infocomm Ltd, the telecom arm of Indian billionaire Mukesh Ambani's Reliance Industries Ltd, reported a 13 per cent 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 Rs 4,716 crore ($574.8 million) in the three months ended March 31, from Rs 4,173 crore a year ago.
Its revenue from operations climbed 11.9 per cent to Rs 23,394 crore.
Meanwhile, Reliance Jio Infocomm plans to raise funds from the sale of commercial papers maturing in nearly three months, three merchant bankers said on Friday. The company will offer a yield of 7.10% on the issue and has received commitments worth around Rs 2,000 crore ($243.74 million) so far, the bankers said.
(With agency inputs)
Meanwhile, Reliance Jio Infocomm plans to raise funds from the sale of commercial papers maturing in nearly three months, three merchant bankers said on Friday. The company will offer a yield of 7.10% on the issue and has received commitments worth around Rs 2,000 crore ($243.74 million) so far, the bankers said.
(With agency inputs)
