Reliance Jio Q1 net profit up 20% to Rs 612 crore

Reliance Jio today said its standalone net profit has increased 19.9 per cent to Rs 612 crore for the three month period ended on June 30, 2018, as against the preceding quarter.

The company had registered a net profit of Rs 510 crore in the January-March 2018, Reliance Jio said in a statement.

Its revenue from operations came in at Rs 8,109 crore in the June quarter, up nearly 14 per cent from the fourth quarter of FY'18.

The subscriber base stood at 215.3 million as on June 30, 2018, the Reliance Industries group firm said.

"Jio continues on its path to drive digital revolution in India. We doubled our customer base and most user metrics in the last 12 months. 215 million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world," Reliance Industries Chairman and Managing Director Mukesh Ambani said.

He added that the "continued strength in financial results of Jio despite competitive intensity reinforces the customer uptake of its services and its strong operating leverage".