Reliance Jio has reported a 45.6% increase in net profit to ₹891 crore during the June quarter.
The average revenue per user fell to ₹122 during the quarter even as the subscriber base increased to 331.3 million.
In another development, Canada’s Brookfield Asset Management has agreed to invest ₹25,215 crore in the units proposed to be issued by Tower Infrastructure Trust of Reliance Industries (RIL), making it among the largest foreign investment transactions in an Indian infrastructure vehicle.
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In a filing with the exchanges, Reliance Industries Limited (RIL) said its wholly owned subsidiary Reliance Industrial Investments and Holdings Limited (RIIHL) has entered into an agreement with BIF IV Jarvis India Pte Limited, an affiliate of Brookfield Asset Management Inc. (Brookfield) for the investment.
The Canadian investor had previously led a consortium that agreed to buy the East-West pipeline from firms controlled by Mukesh Ambani for $1.9 billion.