Reliance Jio Infocomm Q1 net profit rises 12% to Rs 5,445 Cr
The revenue from operations for Reliance Jio Infocomm rose 10% year-on-year to Rs 26,478 crore in the first quarter of the current financial year, according to a BSE filing.
Telecom operator on Friday posted a 12% year-on-year jump in standalone net profit for the June quarter at Rs 5,445 crore.
The revenue from operations for the telco—the largest of three private players in the market—rose 10% year-on-year to Rs 26,478 crore in the first quarter of the current financial year, according to a BSE filing.
The net profit stood at Rs 5,445 crore for the quarter under review, which translates into an 11.9% increase year-on-year and a 2% rise sequentially.
The company reported a bigger first-quarter profit, as it signed on more subscribers.
Reliance Jio added 2.2 million net subscribers and 3.5 million active subscribers, marking its 27th consecutive month of subscriber growth in the month of May. Jio's visitor location register (VLR) ratio improved to 92.1% in May, reflecting a growing active user base, as per the data released by the Telecom Regulatory Authority of India (TRAI).
Meanwhile, Vodafone Idea (Vi) faced a loss of 924,797 users, marking its largest decline in three months. Airtel recorded the highest active subscriber percentage at 99.07%. Jio held 40.60% of the wireless market share with 474.62 million users, followed by Airtel at 33.17% with 387.77 million users, and Vi at 18.66% with 218.16 million users.
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