Reliance Jio September Quarter Profit Nearly Triples To ₹ 2,844 Crore On Lockdown Boost

Billionaire Mukesh Ambani-led Reliance Industries’ telecom arm, Reliance Jio Infocomm, on Friday reported a net profit of Rs 2,844 crore in the July-September period. That marked a nearly three-fold jump compared to its net profit of ₹ 990 crore in the corresponding quarter a year ago, boosted by a rise in data usage from a coronavirus-fuelled shift to remote working.

In a regulatory filing after market hours, Reliance Jio Infocomm said its revenue from operations rose to ₹ 17,481 crore in the quarter ended September 30, from ₹ 13,130 crore in the year-ago period.

Its average revenue per user (ARPU) – a key measure of profitability – rose to ₹ 146 per month in the three months to September 30, from ₹ 140.3 per month in the previous quarter. 

Reliance Jio said it has evaluated the implications of the coronavirus pandemic, and has determined that there is no significant impact on its financial position and performance.

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