Reliance Jio booked a sharp increase in profit for its fiscal second quarter ending 30 September, as mobile tariffs climbed and it continued to add more than 4 million subscribers a month.
Net profit nearly tripled from the comparable 2019 period to INR28.4 billion ($381.7 million), while revenue increased 33.1 per cent to INR174.8 billion.
The operator, the largest mobile operator in India by subscribers, added 50.4 million to end September with 405.6 million, making it the first company outside of China to surpass the 400 million mark in a single market.
ARPU jumped 20.8 per cent to INR145. Average data consumption per user rose marginally from 11.7GB a month to 12GB.
Jio Platforms, the digital arm of parent company Reliance Industries, earlier in the year raised INR1.52 trillion from 13 global investors, including Facebook [1], Google [2] and Qualcomm [3].
The conglomerate said all investments excluding Google were completed after fulfilling the required conditions, with a total of INR1.18 trillion received.
[1] https://www.mobileworldlive.com/featured-content/home-banner/facebook-takes-10-stake-in-indias-jio-for-5-7b
[2] https://www.mobileworldlive.com/featured-content/top-three/google-earmarks-10-billion-for-india-digitalisation
[3] https://www.mobileworldlive.com/featured-content/home-banner/jio-platforms-prepares-for-5g-with-qualcomm-funding
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