Reliance Jio EBIT jumps 60% in Q3, operating revenue rises 28.3%

Jio's subscriber base as on December 31 was 370 million, which shows a 32.1 per cent YoY growth

Reliance Jio posted a 60.6 per cent earnings before interest and tax to Rs 3,805 crore, riding on 28.3 per cent jump in the operating revenues, which came in at Rs 13,968 crore. The telco, however, saw 22 million subscribers leave its network thanks to the implementation of interconnect usage charges (IUC) charges.

These were primarily voice customers. This along with the tariff hikes implemented during the quarter (around mid December) and the huge offtake for JioPhones led to a rise in the average revenue per user (ARPU) on a quarter-on-quarter (QoQ) basis to Rs 128.4. On a year-on-year (YoY)