Earnings

Reliance Jio net profit jumps 62.5% to Rs 1,350 crore in Q3, misses estimates

Updated : January 18, 2020 12:40 PM IST

In the corresponding quarter last year, the company posted a net profit of Rs 831 crore.

CNBC-TV18 Polls had predicted a profit of Rs 1,500 crore for the quarter under review.

Reliance Jio, the telecom arm of Reliance Industries Ltd, Friday reported a 62.5 percent jump in its standalone net profit at Rs 1,350 crore for the third quarter ended December 31.

In the corresponding quarter last year, the company posted a net profit of Rs 831 crore. CNBC-TV18 Polls had predicted a profit of Rs 1,500 crore for the quarter under review.

The company recorded an increase of 28.3 percent in its operating revenue at Rs 13,968 crore as 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 a bouquet of digital content and services," RIL chairman and managing director Mukesh Ambani said in a statement.

He said that a truly transformational and disruptive digital services company has also been set up to drive the next leg of growth.

Reliance Jio subscriber base increased by 32.1 per cent as on December 31, 2019, on a year-on-year basis to 37 crore and average revenue per user stood at Rs 128.4 during the quarter.

Total wireless data traffic during the quarter on its network increased by 39.9 Y-o-Y basis to 1,208 crore GB, and voice traffic during the quarter jumped 30.3 per cent to 82,640 crore minutes.

Disclaimer: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

Reliance Jio net profit jumps 62.5% to Rs 1,350 crore in Q3, misses estimates

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