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Reliance Jio's Oct-Dec net profit grows to Rs 3,489 cr on QoQ basis
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SME Times News Bureau | 22 Jan, 2021
Telecom major Reliance Jio Infocomm on Friday reported a 15.5 per cent
growth on a quarter-on-quarter basis in its consolidated net profit for
the quarter-ended December to Rs 3,489 crore.
During the July-September quarter, the company's net profit stood at Rs 3,020 crore.
The
telecom major's operating revenue during the period under review stood
at 19,475 crore, higher by 5.3 per cent on QoQ basis, the company said
in a statement.
"India is today among the leaders driving the
Digital Revolution in the world," said Mukesh Ambani, Chairman and
Managing Director, RIL.
"In order to maintain this lead, Jio will
continue to accelerate the rollout of its digital platforms and
indigenously developed next generation 5G stack and make it affordable
and available everywhere. Jio's 5G service will be a testimony to the
vision of Aatmanirbhar Bharat.
"Jio is determined to make India
'2G-mukt', thereby empowering every Indian to have an affordable
smartphone and be a part of digital and data revolution. We invite and
encourage all stakeholders to work together to make world-class digital
services available to every Indian consumer at the most affordable
prices," he added.
Besides, the company said that its average revenue per user (ARPU) increased to Rs 151 with overall increase in engagement.
Furthermore, the total customer gross addition was robust at 25.1 million despite Covid related constraints and local issues.
Net subscriber addition of 40 million during 2020 is highest in the industry.
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