Reliance Jio Q2 net up 45.4% at Rs 990 crore on strong subscriber base

Telecom operator Reliance Jio on Friday posted a 45.4 per cent jump in its net profit to Rs 990 crore on a standalone basis in the July-September quarter of 2019-20 on account of growth in subscriber base.

The company had posted a net profit of Rs 681 crore in the same quarter a year ago.

The operating revenue of the company increased by 33.7 per cent to Rs 12,354 crore during the reported quarter from Rs 9,240 crore in the corresponding quarter of 2018-19.

"Jio crossed the 350 million subscriber mark to remain the world's fastest growing digital services company, and we are still adding more than 10 million new customers every month. Jio is not only India's largest telecom enterprise in terms of subscribers and revenues but has also become the Digital Gateway of India," Reliance Industries Chairman and Managing Director Mukesh D Ambani said in a statement.

The company reported the average revenue per user of Rs 120- a dip of Rs 2 compared to the previous quarter. The same, was however, was offset by growth in the subscriber base.

The Jio's subscriber base reached at 35.52 crore at the end of the reported quarter from 33.13 crore in the previous quarter.