Reliance Jio Q4 Result: Profit Rises 177% YoY To Rs. 2,331 Crore

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Reliance Jio has posted a net profit of Rs. 2331 crore in the fourth quarter of the last financial year, which is 72 percent higher than Q3 due to new tariff rates and high data usage. However, on a yearly basis, it grew by 177 percent, while the operating revenue is increased by 6.2 percent quarter-on-quarter, and it is up 26.6 percent year-on-year. This is tenth-time that the company has posted a profit.

Reliance Jio Q4 Result: Profit Rises 177% YoY To Rs. 2,331 Crore

 

"Jio is embarking on the next leg of growth with a path-defining partnership with one of the world's largest digital companies, Facebook. Our focus will be India's 60 million micro, small and medium businesses, 120 million farmers, 30 million small merchants, and millions of small and medium enterprises in the informal sector," Mukesh Ambani, chairman of RIL, parent of Jio, said.

Besides, the operator has managed to get 17.5 million new subscribers during the quarter, despite the fact the nationwide lockdown was announced on March 25, 2020."Aggressive sales initiative and customer-focused approach have been launched to help recoup slowdown in subscriber addition momentum, as we return to normalcy," Jio said. The subscriber base has reached to 387.5 million, which is less as analysts were expecting 20 million additions in Q4 2020.

Meanwhile, its Average Revenue per User (APRU) has increased to Rs 130.6 during the quarter ended. Notably, it was Rs. 128 in the third quarter of the last financial year. Moreover, data consumption has also increased to 11.1GB during the quarter, while calling consumption has reached 771 minutes per month per user."Customer engagement continues to be robust with average data consumption per user per month of 11.3 GB and average voice consumption of 771 minutes per user per month," Jio added.

The firm also pointed out that the operator has joined hands with Microsoft to launch initiatives like Work From Home, Learn From Home, and Health At Home. In addition, it said the company has launched double data benefits, 10Mbps speed for JioFiber users, free incoming calls, messages for JioPhone users, and it has partnered with ATMs to help its users during the lockdown. It is worth mentioning that Reliance Jio is the only telecom operator who is doing well in the market.

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