Reliance Jio Net Profit At Rs 891 Crore In June Quarter

Reliance Jio Infocomm's net profit in June quarter rose 45.6 per cent to Rs 891 crore from Rs 612 crore in the same quarter last year, the company said in a statement. Revenue of the telecom arm of Reliance Industries came in at Rs. 11,679 crore, up 44 per cent from Rs 8,109 crore it had reported for the same period last year.

The average revenue per user (ARPU), a key metric of profitability for telecom companies, came in at Rs 122. Reliance Jio added 33.8 million subscribers during the quarter, the telecom operator's statement added.

"Growth in Jio mobility services has continued to surpass all expectations. In less than two years of commercial operations, Jio network carried almost 11 Exabytes of data traffic during the recently concluded fiscal quarter," said Mukesh Ambani, chairman and managing director, Reliance Industries Limited.

Earlier in the day, Reliance Jio pipped rival Bharti Airtel to become India's second-largest operator by subscribers as of May, government data showed.

Meanwhile, Reliance Industries reported a net profit of Rs. 10,104 crore for the quarter ended June 30, 2019. That marked a 6.8 per cent increase compared to its net profit of Rs. 9,459 crore in the same period last year.