Reliance Jio nearly trebles Q2 profit to Rs 2,844 crore; ARPU at Rs 145

Kolkata & Mumbai: Reliance Jio Infocomm’s net profit almost trebled in the July-September period – its 12th profitable quarter in a row – helped by higher mobile recharge volumes with the easing of lockdown curbs, strong customer adds and lower finance costs after reduced debt.

Profit rose to Rs 2,844 crore in the quarter from Rs 990 crore a year ago and Rs 2,520 crore in the preceding quarter, Jio said in a statement Friday. The market had estimated Jio’s quarterly profit at roughly Rs 2,850 crore.

Quarterly revenue climbed over 33% to Rs 17,481 crore from a year back for the country’s largest telecom operator, which is playing a key role in helping parent Reliance Industries (RIL) transform into a technology platform company from an oil-and-retail conglomerate.