Anil Ambani led Reliance Communications clocks second-quarter profit surge due to one-time gain

Anil Ambani led Reliance Communications Ltd posted a sharp rise in its quarterly profit on Saturday, as it recorded a one-time gain.

Reliance Communications net profit for the July-September quarter came in at 67.98 billion rupees ($939 million), compared to a profit of 420 million rupees a year earlier. Image source: Reuters

Anil Ambani led Reliance Communications Ltd posted a sharp rise in its quarterly profit on Saturday, as it recorded a one-time gain. Net profit for the July-September quarter came in at 67.98 billion rupees ($939 million), compared to a profit of 420 million rupees a year earlier.
Revenue from operations fell 41.7 percent to 3.34 billion rupees.

The company said earlier this year that it had completed the sale of its fibre assets to Reliance Jio, the telecoms arm of oil-to-telecoms conglomerate Reliance Industries Ltd.

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