New Delhi, August 23: Mukesh Ambani-led Reliance Industries Ltd (RIL) on Thursday became the first Indian company to cross Rs 8 lakh-crore market capitalisation on BSE index. It must be noted that the shares of RIL surged nearly 37% this year. On Thursday, the shares rose to a 52-week high, which was up over 2 per cent of Rs 1273.55 after the firm laid out mega plans at its annual general meeting (AGM). On Thursday, benchmark Sensex was up 0.09% to 38,315.92 points.

Amongst its other plans, RIL plans to launch its broadband service, Jio GigaFiber. Reports inform that in the afternoon trade, the company’s shares were up 2.03 per cent at Rs 1271.80 its market valuation soared to Rs 8,06,054 crore. In July, Reliance Jio reported a profit of Rs 612 crore for the June quarter which was a 19.9% rise on revenue of Rs 8,109 crore from its operations.

The firm said its standalone net profit has increased 19.9 per cent to Rs 612 crore for the three-month period ended on June 30, 2018, as against the preceding quarter. Jio registered a net profit of Rs 510 crore in the January-March 2018, Reliance Jio said in a statement. Its revenue from operations came in at Rs 8,109 crore in the June quarter, up nearly 14 per cent from the fourth quarter of FY'18.

"Jio continues on its path to drive digital revolution in India. We doubled our customer base and most user metrics in the last 12 months. 215 million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world," Reliance Industries Chairman and Managing Director Mukesh Ambani had said.

(The above story first appeared on LatestLY on Aug 23, 2018 03:27 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).