Reliance Jio net profit jumped 65 percent to Rs 831 crore in December 2018 quarter

Telecom operator Reliance Jio Thursday reported a jump of 65 per cent in its net profit to Rs 831 crore during the December 2018 quarter, mainly on account of a rise in customer base. The company had recorded a net profit of Rs 681 crore in the corresponding period a year ago.

While average revenue per user of Reliance 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 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. We are similarly working on re-inventing the connectivity solutions market for Homes and Enterprise with our next generation FTTX services,” Mukesh D Ambani, chairman and managing director, Reliance Industries Ltd.

The operating revenue of Reliance Jio increased by 50.9 per cent 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.

In related news, a recent report by Telecom Regulatory Authority Of India (TRAI) said that Reliance Jio led the charts as the telecom operator with the fastest download speeds on mobile data for the past twelve months in a row, despite the telco’s speeds decreasing by 8 percent to about 18.7 Mbps. Jio network recorded an average download speed of 20.3 Mbps in November.

With inputs from PTI.

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