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Mukesh Ambani's New Telecom Unit Poised to Report Profit

  • Reliance Jio may show net profit as early as December quarter
  • Lower interconnect fees to significantly reduce operating cost

Richest Indian Mukesh Ambani’s telecom venture is on course to record its first-ever quarterly profit this financial year, aided by the government’s decision to slash interconnection fees, people with knowledge of the matter said. 

Reliance Jio Infocomm Ltd., a unit of the nation’s most valuable company Reliance Industries Ltd., may report a net income this month itself when it lays out its December-quarter performance, the people said, asking not to be identified discussing private information.