Reliance Jio Q4 net profit rises 65% to Rs 840 crore; revenues up 55%

Jio, Reliance Industries’ telecom arm, on Thursday reported 64.7 per cent increase in its net profit to Rs 840 crore in the March quarter of 2018-19 on a year-on-year (YoY) basis.

However, Jio missed the Street estimates for the fourth quarter, sequentially posting flat growth after its average revenue per user (ARPU) fell by 3 per cent sequentially to Rs 126.2.

Standalone revenues from operations came in at Rs 11,106 crore, up 7 per cent quarter-on-quarter (QoQ). The subscriber base, however, crossed 300 million with a net addition of 26.6 million during the quarter.

Revenues were up 55.8 per cent while net profits were up 64.7 per cent on YoY. The standalone Ebitda (earnings before interest, tax, depreciation and amortisation) for Jio grew by 6.8 per cent QoQ to Rs 4,329 crore; on a YoY basis, however, it was a 60.7 per cent rise.