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.
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)
To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day.
To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.
Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.
Updated Date: Jan 17, 2019 19:34:38 IST