Reliance Jio's Q1 net profit zooms 45.6% to Rs 891 cr; operating revenue up 44% to Rs 11,679 cr
5 years, 8 months ago

Reliance Jio's Q1 net profit zooms 45.6% to Rs 891 cr; operating revenue up 44% to Rs 11,679 cr

Firstpost  

New Delhi: Mukesh Ambani-led Reliance Jio on Friday reported 45.6 percent rise in its net profit to Rs 891 crore for June quarter of 2019-20. Growth in Jio mobility services has continued to surpass all expectations…Jio management is focused on giving unmatched digital experience at a most affordable price to every citizen of the country, and accordingly expanding the network capacity and coverage to keep pace with demand," Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, said in a statement. During the June quarter, the Average Revenue per user for Reliance Jio - which has unleashed one of the most brutal price wars in India’s telecom market - was at Rs 122 per subscriber per month. Established operators like Bharti Airtel, Vodafone Idea Ltd are in the midst of a bruising tariff war following the entry of Reliance Jio, backed by India’s richest man Mukesh Ambani.

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