Reliance Jio’s Oct-Dec Net Profit Grows To Rs 3,489 Cr On Qoq Basis

Mumbai:  Telecom major Reliance Jio Infocomm on Friday reported a 15.5 per cent growth on a quarter-on-quarter basis in its consolidated net profit for the quarter-ended December to Rs 3,489 crore.

During the July-September quarter, the company’s net profit stood at Rs 3,020 crore.

The telecom major’s operating revenue during the period under review stood at 19,475 crore, higher by 5.3 per cent on QoQ basis, the company said in a statement.

“India is today among the leaders driving the Digital Revolution in the world,” said Mukesh Ambani, Chairman and Managing Director, RIL.

“In order to maintain this lead, Jio will continue to accelerate the rollout of its digital platforms and indigenously developed next generation 5G stack and make it affordable and available everywhere. Jio’s 5G service will be a testimony to the vision of Aatmanirbhar Bharat.

“Jio is determined to make India ‘2G-mukt’, thereby empowering every Indian to have an affordable smartphone and be a part of digital and data revolution. We invite and encourage all stakeholders to work together to make world-class digital services available to every Indian consumer at the most affordable prices,” he added.

Besides, the company said that its average revenue per user (ARPU) increased to Rs 151 with overall increase in engagement.

Furthermore, the total customer gross addition was robust at 25.1 million despite Covid related constraints and local issues.

Net subscriber addition of 40 million during 2020 is highest in the industry.