Reliance Jio net profit jumps 65% to Rs 831 cr in December quarter, operating revenue up 51%

Telecom operator Reliance Jio on Thursday reported a jump of 65 percent in its net profit to Rs 831 crore during the December 2018 quarter, mainly on account of a rise in customer base

Press Trust of India January 17, 2019 19:34:00 IST
Reliance Jio net profit jumps 65% to Rs 831 cr in December quarter, operating revenue up 51%
  • Reliance Jio had recorded a net profit of Rs 504 crore in the corresponding period a year ago

  • Its operating revenue increased by 50.9% to Rs 10,383 crore during the October-December 2018 period, compared with the Rs 6,879 crore in same period last year

  • While average revenue per user of Reliance Jio continued to decline, the impact seems to have mitigated with a sharp increase in customer base to 28 crore by the end of December

New Delhi: Telecom operator Reliance Jio on Thursday reported a jump of 65 percent in its net profit to Rs 831 crore during the December 2018 quarter, mainly on account of a rise in customer base.

The company had recorded a net profit of Rs 504 crore in the corresponding period a year ago.

Reliance Jio net profit jumps 65 to Rs 831 cr in December quarter operating revenue up 51

Reliance Jio. Reuters.

While average revenue per user of Reliance Jio continued to decline, the impact seems to have mitigated with a sharp increase in customer base to 28 crore by the end of December, from 16 crore in the year-ago period.

"The Jio family is now 280-million strong and growing on one of the world's largest mobile data networks, in line with our vision of connecting everyone and everything, everywhere – always at the highest quality and the most affordable price. We are similarly working on re-inventing the connectivity solutions market for Homes and Enterprise with our next generation FTTX services," Mukesh Ambani, chairman and managing director, Reliance Industries Ltd.

The operating revenue of Reliance Jio increased by 50.9 percent to Rs 10,383 crore during the October-December 2018 period, compared with the Rs 6,879 crore it registered in the corresponding period a year ago.

(Disclosure - Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)

 

 

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