Home ECONOMY Reliance Jio posts Rs 612 crore profit in Q1

Reliance Jio posts Rs 612 crore profit in Q1

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Mumbai: Reliance Jio, a subsidiary of Reliance Industries Limited (RIL), posted a standalone net profit of Rs 612 crore for the first quarter of 2018-19.

It had posted a standalone net profit of Rs 510 crore for the fourth quarter of 2017-18.

According to the results published on Friday, the standalone revenue from operations of the company stood at Rs 8,109 crore during the quarter under review.

As per the results, subscriber base of Jio as on June 30, 2018 was 215.3 million with an average revenue per user during the quarter at Rs 134.5 per month.

The total wireless data traffic during the quarter was 642 crore GB and total voice traffic 44,871 crore minutes.

“Jio continues on its path to drive digital revolution in India. We doubled our customer base and most user metrics in the last 12 months. 215 million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world,” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries was quoted as saying in a statement.

“Jio has built an ecosystem for digital services and its affordable and simplified pricing strategy offers every Indian a chance to experience the ‘power of data’.”

“FTTH and enterprise services with strong fibre backbone across the country would further establish Jio’s leadership as a digital services provider. The continued strength in financial results of Jio despite competitive intensity reinforces the customer uptake of its services and its strong operating leverage. Jio is committed to offering most value to all of its stakeholders,” Ambani added. (IANS)