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Reliance Jio reports net profit of Rs 504 crore in Q3

NEW DELHI: Telecom arm of Reliance Jio posted its first ever..

NEW DELHI: Telecom arm of Reliance Jio posted its first ever quarter net profit of Rs 504 crore for the quarter ended December 31, 2017. It had posted a net loss of Rs 271 crore in the sequential quarter ended September 30, 2017.

EBITDA of the company soared 82.10 per cent quarter-on-quarter to Rs 2,628 crore during the quarter under review. It had posted EBITDA of Rs 1,443 in Q2FY18.

EBITDA margin of Jio jumped to 38.20 per cent in Q3FY18 over 23.50 per cent in Q2FY18. ARPU stood at Rs 154 per subscriber per month.

Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries said: "Jio's strong financial result reflects the fundamental strength of the business, significant efficiencies and right strategic initiatives. Jio has demonstrated that it can sustain its strong financial performance."

Jio continued its rapid ramp-up of subscriber base and as of December 31, 2017, there were 160.1 million subscribers on the network. This makes it India's largest wireless data subscriber base, with the gap widening from the other operators.

With gross additions of 27.8 million during the quarter, Jio continued to have a dominant share of all the new LTE smartphones sold in the country.

Consolidated net profit of Reliance Industries surged 25.10 per cent year-on-year to Rs 9,423 crore in Q3FY18 over Rs 7,533 crore in Q3FY17.

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