Reliance Jio Q3 Result: Post 65% jump in net profit

Mukesh Ambani- owned Reliance Jio has reported a jump of 65 percent in its net profit to Rs 831 crore during the December 2018 quarter, mainly on account of a rise in customer base.

Its standalone revenue from operations of Rs.10,383 crore (12.4 percent QoQ growth).

The company added 27.9 million (as against a previous four-quarter average of 28.4 million).

Mukesh D. Ambani, Chairman, and Managing Director, Reliance Industries Limited said: "The journey of Jio has been truly remarkable and has surpassed all expectations. The Jio family is now 280 million strong and growing on one of the world's largest mobile data networks, in line with our vision of connecting everyone and everything, everywhere - always at the highest quality and the most affordable price. We are similarly working on re-inventing the connectivity solutions market for Homes and Enterprise with our next generation FTTX services.

"Our relentless focus is on creating platforms to truly transform the digital life of every citizen of India across connectivity, commerce, media and entertainment, financial services, agriculture, education, and healthcare, which will further enhance productivity and economic prospects of our nation, Ambani added.

Jio said that JioGigaFiber services for Home broadband, Entertainment, Smart Home Solutions, Wireline, and Enterprise has witnessed overwhelming customer interest across 1,400 cities

The telco pointed out that Reliance Industries Limited, parent of the Company, awaits regulatory approvals to complete the recently announced investment in Den Networks Limited and Hathway Cable and Datacom Limited. Post completion of the transaction.

It said Video consumption drove most of the usage, increasing to 460 crore hours per month.

Furthermore, JioPhone Monsoon Hungama offer (by Reliance Retail) with exchange policy and Rs.501 upfront commitment has continued to witness good customer traction.