Jio net profit jumps 65% to Rs 831 cr in Dec quarter

Telecom operator Reliance Jio on Thursday reported a jump of 65 per cent 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 681 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 D Ambani, chairman and managing director, Reliance Industries Ltd.

The operating revenue of Reliance Jio increased by 50.9 per cent 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.