Reliance Jio posts Rs 5,208 Crore profit for Q3; a 12.3% increase
Company adds 11.2 million users during the quarter- reaching a total of 470.9 million
Telecom giant Reliance Jio’s net profit for December quarter rises 12.3% to ₹5208 crore
BILKULONLINE
Mumbai, Ahmedabad, Jan 19: Reliance Jio’s standalone net profit rose 12.3 per cent to ₹5,208 crore in the December quarter compared to ₹4,638 crore a year ahead, the telecom giant said in a regulatory filing on Friday.
Its profit growth had slowed from 28.3% to 11.95% in the past four quarters. Jio’s revenue from operations increased 10.3 per cent to ₹25,368 crore in the third quarter against ₹22,998 crore in the year-ago period, snapping five straight quarters of slowing growth.
Its total expenses increased by just under 10%, almost aligning with its revenue growth.
Jio has been focused on enhancing user growth through the recent introduction of a budget-friendly 4G phone and wireless broadband service called Jio AirFiber.
Jio’s subscriber additions and Average Revenue Per User (ARPU), a crucial performance metric for telecom companies, will be disclosed along with the results of its parent company, Reliance, later on Friday.
