Reliance Jio Q2 Results: Profit jumps 23% YoY to Rs 6,539 crore, revenue up 18%
Reliance Jio Infocomm on Monday reported a 23.4% jump in its September quarter consolidated net profit at Rs 6,539 crore versus Rs 5,299 crore reported by the company in the year ago period. The revenue from operations stood at Rs 31,709 crore, higher by 18% over Rs 26,875 posted by the company in the corresponding quarter of the previous financial year.
The company reported strong 7.4% YoY increase in average revenue per user (ARPU) to Rs 195.1.
The company further said that the full impact of tariff hike will flow through in the next 2-3 quarters.
Customer base in the reported quarter stood at 478.8 million which was up by 4.2% YoY.
Commenting on company's earnings, Chairman and Managing Director Mukesh Ambani said that Reliance once again demonstrated the resilience of its diversified business portfolio. «Our performance reflects robust growth in Digital Services and upstream business. This helped partially offset weak contribution from O2C business which was impacted by unfavorable global demand-supply dynamics,» Ambani said.
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