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    Reliance Jio Q3 net profit at Rs 831 crore as video consumption remains mainstay

    Reliance Jio Q3 net profit at Rs 831 crore as video consumption remains mainstay

    Reliance Jio Q3 net profit at Rs 831 crore as video consumption remains mainstay
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    By CNBC-TV18  IST (Updated)

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    Mukesh Ambani led Reliance Jio on Thursday reported a consolidated net profit of Rs 831 crore for the third quarter ended December 31, 2018.

    Mukesh Ambani led Reliance Jio on Thursday reported a reported a jump of 65 percent in its net profit to Rs 831 crore during the December 2018 quarter as video consumption remained the mainstay of the company.
    CNBC-TV18 Polls had predicted a profit of Rs 793 crore for the quarter under review.
    The company had recorded a net profit of Rs 504 crore in the corresponding quarter of the previous financial year.
    The operating revenue of Reliance Jio increased by 50.9 percent to Rs 10,383 crore during the October-December 2018 period, compared with the Rs 6,879 crore it registered in the corresponding period a year ago, Jio said in an exchange filing.
    While average revenue per user of Jio continued to decline, the impact seems to have mitigated with a sharp increase in customer base to 28 crore by the end of December, from 16 crore in the year-ago period.
    “The journey of Jio has been truly remarkable and has surpassed all expectations. The Jio family is now 280 million strong and growing on one of the world’s largest mobile data networks, in line with our vision of connecting everyone and everything, everywhere – always at the highest quality and the most affordable price," said Mukesh Ambani, chairman and managing director, Reliance Industries Limited.
    The company is similarly working on re-inventing the connectivity solutions market for Homes and Enterprise with our next generation FTTX (fiber-to-the-subscriber) services, Ambani said.
    "Our relentless focus is on creating platforms to truly transform the digital life of every citizen of India across connectivity, commerce, media and entertainment, financial services, agriculture, education and healthcare, which will further enhance productivity and economic prospects of our nation,” he added.
    Disclosure:
     RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.
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