Mukesh Ambani's Reliance Jio Q1 net profit rises 20% to Rs 6 billion

Jio's growth came as its rival Airtel reported a net loss of Rs 9.4 billion in its India operations during the quarter ended June

Reliance Industry's telecom arm Jio Infocomm reported a net profit of Rs 6.1 billion for April-June quarter, a rise of 20 per cent from Rs 5.1 billion during the year-ago period. The average revenue per user (ARPU), however, fell marginally to Rs 134.5 (from Rs 137 last quarter), but continued to be higher than the industry average.

Operating revenue jumped 13.8 per cent sequentially to Rs 81 billion in line with Street estimates from Rs 71.28 billion last quarter. The company reported earnings before interest, tax, depreciation and amortisation (EBIDTA) of Rs 31.5 billion growing 16.8 per cent quarter on quarter,