Reliance Jio posts Rs 510 crore profit in fourth quarter

Mumbai: Reliance Jio, a subsidiary of Reliance Industries Limited (RIL), posted standalone net profit of Rs 510 crore for the fourth quarter (January-March) 2017-18.

It had posted standalone net profit of Rs 504 crore for the third quarter (October-December) of 2017-18.

Standalone revenue from operations of the company stood at Rs 7,128 crore during the fourth quarter, according to results published on Friday.

Subscriber base of Jio as on March 31 was 186.6 million with an average revenue per user during the quarter at Rs 137.1 per month.

Total wireless data traffic during the quarter was 506 crore GB and total voice traffic 37,218 crore minutes.

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"A full-blown social, mobile and digital revolution is underway across the world, and I am glad that India is not being left behind in any way with the advent of Jio. Everyone at Jio is today proud to have played a pivotal role in transforming the digital landscape of this country and empowering millions of Indians with all the leading digital tools and skills. Jio is offering the "power of data" to each Indian to fulfil every dream and to collectively take India to Global Digital Leadership," said Mukesh D. Ambani, Chairman and Managing Director, RIL.

"The strong financial results of Jio in a competitive market environment demonstrates the robustness of the Jio business model and ability to offer the most value to our customers and partners. Jio has demonstrated that it can scale and sustain its strong financial performance," he added.