Reliance Jio net profit jumps 62.5% to Rs 1,350 crore in December

NEW DELHI: Telecom operator Reliance Jio on Friday posted a 62.5% jump in its net profit at Rs 1,350 crore in the three months to December 2019, as it added more users and saw per subscriber earning rising on back of an increase in tariff. The company’s strong performance comes at a time when its rivals are staring at billions of dollars in statutory dues, leading to record losses in the previous quarter.
Reliance Jio had posted a net profit of Rs 831 crore in the corresponding quarter of 2018-19.
The company recorded an increase of 28.3 per cent in its operating revenue at Rs 13,968 crore compared to Rs 10,884 crore in the year-ago period.
“Jio has continued on its unprecedented growth journey receiving overwhelming customer response for best in class mobile connectivity services. Jio is also determined to redefine the wireline infrastructure, home entertainment and enterprise market in India with its FTTx services which bundle best-in-class connectivity with bouquet of digital content and services,” RIL Chairman and Managing Director Mukesh Ambani said in a statement.