Its profit if you completely discount away the debt they have :) Or if you think they started at 0 investment. Or if you thinking on lines of completely discoun

Its profit if you completely discount away the debt they have :) Or if you think they started at 0 investment. Or if you thinking on lines of completely discounting their initial capital 'investment' by not calling it Debt. It is debt nevertheless. Its like say took like a crore to start a business, and you are making like a profit of 50000 a month. Its profit, but it isn't exactly profit in an absolute sense, given you have to pay back 1 cr. The thing about companies like Reliance is they can afford to do this. They have debt of $37 billion(https://telecom.economictimes.indiatimes.com/news/cash-rich-reliance-looks-to-raise-3-billion-as-13-billion-debt-matures/64542402 https://telecom.economictimes.indiatimes.com/news/cash-rich-...) and they want to raise another $3 billion. So yes, they post profits. Based on what your definition of profit is.