Reliance Jio, which disrupted the telecom market by offering cheap data plans, has secured a decent set of profit for the fifth straight profitable quarter. During the October-December period, the company reported a net profit of Rs 831 crore, which is up 22.1 percent. Comparatively, the company reported a profit of Rs 681 crore in the previous quarter. It has managed to get a 65 percent hike compared to a year-ago.
The telecom giant seems to be riding high on the success ladder with addition of 27.9 million subscribers. When compared to the previous quarter, the company’s operating revenue witnessed an uptick of 12.1 percent. It secured the monthly average data usage of 10.8GB and voice consumption of 794 minutes each customer per month, with a growth of 4.3 percent sequentially.
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“We are similarly working on re-inventing the connectivity solutions market for Homes and Enterprise with our next generation FTTX services,” Mukesh Ambani, Chairman and Managing Director at Reliance Industries, said in a statement. “The journey of Jio has been truly remarkable and has surpassed all expectations,” Reliance chairman and managing director Mukesh Ambani said in a statement.
The company further asserted that “its home broadband and enterprise service – JioGigaFiber – has seen strong customer interest across 1,400 cities, and the company is currently connecting homes on priority based on the requests received,” ET reported. It further mentioned that other telecom companies like Bharti Airtel and Vodafone Idea may report about a “sizeable loss late this month or early next, albeit on a slower pace of revenue fall.”
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