Reliance Jio logs net profit of Rs 840 crore in Q4

Reliance Jio on Thursday reported a standalone net profit of Rs 840 crore for the quarter ended March 31. Reliance Jio, telecom arm of Reliance Industries, saw a net profit jump of 64.7 per cent as compared to Rs 510 crore reported for the last corresponding period.

The net profit for the financial year 2018-19 was Rs 2,964 crore, Reliance Jio said in a regulatory filing on Thursday. The company had posted a net profit of Rs 723 crore during 2017-18, said the firm.

Reliance Jio's consolidated profit saw a growth of 9.8 per cent to Rs 10,362 crore for the fourth quarter that ended March 31, the company said in a statement.

Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited (RIL), said: "We at Jio are truly overwhelmed and proud to now serving over 300 million subscribers. Growth in data and voice traffic at this scale has been unparalleled."

"Jio's network is one of the largest mobile data networks in the world. Our constant endeavour is to offer a gold standard digital experience to all our users across the country," he said.

"After successful execution of mobility business, Jio is now focused on catapulting India's underserved home and enterprise connectivity market to global standards with its next-generation FTTX services," he said.

"Jio mobility services along with Gigafiber fixed-broadband services and associated technology platforms have been designed to transform India with the power of digital revolution and reinvent Reliance as a technology platform company," he said.