MUMBAI: Reliance Industries subsidiary Reliance Jio Infocomm today reported a net profit of Rs 3,291 crore, which was 16 per cent higher than the previous quarter, with revenues rising 6 per cent to Rs 18,492 crore.
The country’s largest telecom operator by subscriber base reported average revenue per user of Rs 151, which was higher than analysts’ estimate of Rs 148-150. In the previous quarter, the company reported Rs 145 in average revenue per user.
The company’s subscriber base on Dec 31 stood at 410.8 million with the company adding 5.2 million net new users on its network.
Reliance Jio’s operating profit in the quarter stood Rs 8,483 crore up 6.4 per cent from the previous quarter. The company’s operating margin in the quarter rose to 43.6 per cent from 43.1 per cent in the previous quarter.
Shares of Reliance Industries ended 2.4 per cent lower at Rs. 2,049.60 on the National Stock Exchange.
