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Spectrum auctions in India this year are expected to be less lucrative compared to previous years as many telecom operators already have sufficient airwaves and will focus on renewing licenses. ....
India Business News: Reliance Industries (RIL) reported a 10% rise in quarterly profit driven by its oil & gas business and digital services (Jio). The company's revenue grew by 4%. The operating profit of its digital services and retail businesses also increased. However, its mainstay oil-to-chemical business was impacted by lower price realizations. Find out more about RIL's Q3 earnings and the performance of its various segments. ....
Reliance Industries oil and gas exploration segment has shown a significant jump in performance, with a 22% increase on a sequential basis and a 50% increase on a YoY basis. The current EBITDA number for the segment stands at close to Rs 5,800 crore. Mayuresh Joshi, Head-Equity Research-India at William O Neil, expects the numbers to remain stable and increase at a reasonable pace. ....
Snap-E Cabs and Jio-bp unveiled a new electric vehicle charging hub in Kolkata. The hub, located in the basement of Axis Mall, has 150 stations, including 26 with one-hour rapid charging technology. It operates under the Jio-bp brand, a joint venture between Reliance Industries and British Petroleum. The hub was inaugurated by the British High Commissioner to India and the British Deputy High Commissioner to East & North-East India. Snap-E Cabs plans to expand its network to 2,500 charging stations by the end of the fiscal year. ....
Reliance Jio Q3 Results: Reliance Industries telecom venture, Jio, recently released its financial results for the third quarter of December 2023. The company reported a noteworthy 12.3% year-on-year increase in net profit, amounting to Rs 5,208 crore. This surge marks a significant turnaround after four consecutive quarters of slower growth. Jio credited this achievement to the rising number of subscribers and the popularity of its affordable 4G phone. ....