Rising user base adds colour to Jio Q2 show; net profit up 45% to Rs 990 cr

Customer growth offset impact of ARPU decline

The Mukesh Ambani-owned Reliance Jio’s reported numbers for the September quarter largely in line with Street estimates. Revenues for the quarter rose 33.7 per cent year-on-year (YoY) to Rs 12,354 crore.

This was led by a 41 per cent growth in subscribers to 355 million. The pressure on customer realisation — measured by average revenue per user (ARPU) — however, continued. The metric came in at Rs 120, compared to Rs 121, as estimated by analysts. Profit before tax jumped 45 per cent over the year-ago quarter, to Rs 1,540 crore.

Ebidta for the quarter was up 44.6 per cent to Rs