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Reliance Jio reports profit before interest and taxes

Despite being the newest entrant, Reliance Jio has accumulated more than 138.6 million subscribers and has triggered a shakeout in the industry by undercutting prices. Photo: Abhijit Bhatlekar/ Mint (Abhijit Bhatlekar/ Mint)Premium
Despite being the newest entrant, Reliance Jio has accumulated more than 138.6 million subscribers and has triggered a shakeout in the industry by undercutting prices. Photo: Abhijit Bhatlekar/ Mint (Abhijit Bhatlekar/ Mint)

Reliance Jio Infocomm had a Rs2.6 billion profit before interest and taxes and a net loss of Rs2.71 billion on revenue of Rs61.5 billion in the second quarter

Mumbai: Billionaire Mukesh Ambani, who upended India’s mobile-phone market with free data and voice services a year ago, said the business made profit before interest and taxes as the unit began charging for data even as it reported a net loss.

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