Reliance Jio’s Q1 net profit surges nearly 183% to Rs 2,520 crore

NEW DELHI: Reliance Jio on Thursday posted nearly 183 per cent jump in its net profit to Rs 2,520 crore for the June quarter.

The net profit stood at Rs 891 crore in the corresponding quarter previous year.

Jio’s operating revenue for the Q1 FY21 grew 33.7 per cent year-on-year to Rs 16,557 crore.

Its total customer base as on June 30, 2020 stood at of 398.3 million, and average revenue per user (ARPU) during the quarter was Rs 140.3 per subscriber per month.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries said: “Jio started with a vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India. Thirteen investors, which include the largest technology companies and investors globally, now share a common vision with us”.

Jio Platforms with partnerships across promising Indian startups and globally renowned technology companies is set to drive the next leg of hyper growth for digital businesses, he said.

“Our growth strategy is aimed at meeting the needs of all the 1.3 billion Indians. We remain focused on playing a leading role India’s transformation into a Digital Society,” Ambani said.

Source: Press Trust of India

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