Jio’s Q4 standalone net profit surges 177% to Rs 2,331 cr

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Mumbai, April 30 (IANS) Telecom major Reliance Jio on Thursday reported a 177.5 per cent year-on-year (YoY) jump in its standalone net profit for the January-March quarter of financial year 2019-20.

The standalone net profit during the fourth quarter of FY20 stood at Rs 2,331 crore, including an exceptional item income of Rs 31 crore related to reversal of provision on AGR dues. During the corresponding period of the financial year 2018-19, its standalone net profit stood at Rs 840 crore.

The total income of the company during the period under review was recorded at Rs 14,861 crore, 26.8 per cent higher than Rs 11,718 crore earned during the same period of the previous fiscal.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Ltd said: “We are glad that we have made connectivity and operations easier for our customers in these difficult times. Every Jio employee is trained to think Customer First and that has resulted in overwhelming customer response as we are serving close to 40 crore Indians now.”

Jio continues to lead the digital revolution in India and the whole-hearted acceptance of our services motivates us to keep improving every day, he said, adding that Jio is embarking on the next leg of growth with a path-defining partnership with one of the world’s largest digital companies, Facebook.

The company, in its statement, said that its subscriber as of March 31 base stood at 38.75 crore and its average revenue per user (ARPU) during the January March quarter was Rs 130.6 per subscriber per month.

Total wireless data traffic during the quarter was 1,284 crore GB, with 34.3 per cent YoY growth and total voice traffic during the quarter of 87,634 crore minutes, higher by 21 per cent than a year ago period.

It further said that Jio Platforms will launch a nationwide video platform called JioMeet.

–IANS

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