{"id":17662,"date":"2020-05-01T08:52:32","date_gmt":"2020-05-01T08:52:32","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=279491"},"modified":"2020-05-01T08:52:32","modified_gmt":"2020-05-01T08:52:32","slug":"reliance-jio-profit-nearly-triples-as-subs-soar","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/05\/01\/reliance-jio-profit-nearly-triples-as-subs-soar\/","title":{"rendered":"Reliance Jio profit nearly triples as subs soar"},"content":{"rendered":"

<\/p>\n

\tReliance Jio, the largest mobile operator in India, added 81 million mobile users in the year to end-March and nearly tripled it profit in its fiscal Q4 (calendar Q1), as rivals struggle with falling profitability and shed customers.<\/p>\n

Net profit in fiscal Q4 increased 177.5 per cent year-on-year to INR23.3 billion ($308.4 million), with operating revenue growing 26.6 per cent to INR148 billion.<\/p>\n

For its fiscal 2020, net profit rose 88 per cent to INR55.6 billion.<\/p>\n

Its subscriber base grew 26.3 per cent to 388 million at end-March, while ARPU increased 3.5 per cent to INR130.60. In fiscal Q4 alone it added 24 million subs.<\/p>\n

In a statement, the company said it registered a significant increase in traffic during the country\u2019s lockdown, with no drop in network performance.<\/p>\n

Average monthly data usage per user increased to 11.3GB from 10.9GB in fiscal Q4 2019.<\/p>\n

Next growth phase
\nCommenting on Facebook acquiring a 10 per cent stake [1] for $5.7 billion, Reliance Industries chairman and MD Mukesh Ambani (pictured) said the operator is embarking on the next leg of growth with a path-defining partnership with one of the world\u2019s largest digital companies.<\/p>\n

\u201cWe are together determined to make India a truly digital society with best-in-class connectivity network complemented with disruptive digital technology platforms for entertainment, commerce, communication, finance, education and health harnessing world\u2019s best tech capabilities.\u201d<\/p>\n

The company said INR280.6 billion ($3.7 billion) of the injection would go to reducing debt, with the remaining INR150 billion to be retained at Jio Platforms to drive future growth.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/facebook-takes-10-stake-in-indias-jio-for-5-7b\/<\/p>\n\n

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Reliance Jio, the largest mobile operator in India, added 81 million mobile users in the …<\/p>\n

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