Reliance Jio reports 24% rise in quarterly profit

Reliance Jio, the telecom arm of Mukesh Ambani-led conglomerate Reliance Industries, reported a 24% rise in quarterly net profit on Friday, as it added more subscribers.

The company's net profit for quarter ended June 30 came in at 43.35 billion rupees ($542.57 million), compared with 35.01 billion rupees in the same period a year ago, Jio said in a regulatory filing.