Reliance Jio beats estimates, Q2 profit up 11.3% at Rs 6.8 billion

Operating revenue jumped 14% sequentially to Rs 92.4 billion, from Rs 81 billion in April-June

RIL’s telecom arm, Jio Infocomm, beat most estimates by reporting net profit of Rs 6.8 billion for the September quarter, up 11.3 per cent sequentially. In the corresponding quarter last year, it had posted a loss of Rs 2.7 billion. Average revenue per user (Arpu) fell a 2 per cent to Rs 131.7 from the earlier quarter, on the back on JioPhone expansion. Jio beat all subscriber addition estimates — it added 37 million users, to 252.3 million. In the June quarter, the addition was 28.7 million.

Operating revenue jumped 14 per cent sequentially to Rs 92.4 billion, from Rs 81