Jio logs net profit of Rs 1,350 cr in Q3 of current fiscal

Telecom operator Reliance Jio has logged a net profit of Rs 1,350 crore in the October-December quarter of the current fiscal as compared to Rs 990 crore posted in the last quarter.

In a statement, the company on Friday said to have recorded an increase of 28.3 per cent in its operating revenue at Rs 13,968 crore as compared to Rs 10,884 crore in the last corresponding period.

The company's earnings before interest, tax, depreciation and amortization (EBITDA) increased to Rs 5,601 crore from Rs 5,166 crore in the last quarter.

Commenting on the results, Reliance Chairman and Managing Director (CMD) Mukesh D Ambani said: "Jio has continued on its unprecedented growth journey receiving overwhelming customer response for best in class mobile connectivity services."

He said the company is delivering on its promise to "drive digital revolution in the country" and added that it is also "determined to redefine the wireless infrastructure, home entertainment and enterprise market in India."

"To drive the next leg of growth, a truly transformational and disruptive digital services company has been set-up which will bring together India's number one connectivity platform, leading digital app ecosystem and world's best tech capabilities, for creating a truly digital society for each Indian," added Ambani.

The subscriber base of Reliance Jio also registered a 32.1 per cent year-on-year growth with 370 million users as on December 2019.

"Pan-India distribution channel with over one million retailers for customer acquisition and selling recharges. Efficient sales channel with best value offering continues to deliver with monthly gross subscriber additions at more than 12 million during the quarter," the release said.

.