- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Reliance Jio logs profit of Rs 504 crore in December quarter
First ever profit for Jio.
Updated : Jan 19, 2018, 07:57 PM IST
 "Reliance Jio")
TRENDING NOW
)
When Dhirubhai Ambani called India's richest man Mukesh Ambani back mid-MBA from abroad, gave him unconventional 'teacher of the world'
)
Mukesh Ambani joined Reliance in 1981, Anil Ambani in 1983, latter became world's 6th richest person but then slipped, his current net worth is...
)
Meet man who helped Mukesh Ambani's son Anant Ambani lose 108 kilos, he charges Rs...
)
Son gives up hope on engineering as he skips IIT JEE Main, his father's response melts hearts online: 'BTech is...'
)
Vinesh Phogat's net worth was only Rs 5 crore before Paris Olympics, her net worth jumped to Rs..., after she decided to...
)
This actor, Zeenat Aman's hero, missed out on many films due to his looks, never became superstar, once sold household goods to make ends meet, his name is..
)
SRH owner Kavya Maran buys star RCB cricketer in middle of IPL 2025, the cricketer is..., he is from...
)
April 17 is important day for Infosys employees as Narayana Murthy's company will announce..., set to affect...
)
Burj Khalifa in Dubai is tallest building in world, but do you know which is India's tallest? Not Mukesh Ambani's Antilia, it is..., its height is...
)
Baba Vanga prediction: Muslim rule in 44 nations by..., are India, Nepal on the list?
Reliance Jio today posted its first-ever net profit of Rs 504 crore for the three months period ended December 2017, the second quarter of commercial operations. The company had incurred a loss of Rs 271 crore in the September quarter.
The revenue from operations came in at Rs 6,879 crore, 11.9 per cent growth over the previous quarter. The earnings before interest, tax, depreciation and amortisation (EBITDA)- at Rs 2,628 crore - was 82.1 per cent more than the sequential quarter. The operating profit margin improved quarter-over-quarter to 38.2 per cent. Jio's subscriber base as on December 31, 2017 stood at 160.1 million, a company release 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," Mukesh Ambani, Chairman and MD, Reliance Industries, said. The company is committed to push newer innovative products, which would radically transform customer lives and generate huge societal value, he added.
Reliance Jio entered the highly-competitive telecom sector in September 2016 with a six-month promotional offer of free voice and data, a strategy that helped it mobilise millions of users.
Jio threw an open challenge to the incumbent telecom operators with its disruptive tariffs, triggering a price war that saw severe bloodletting in the sector in following months.
Last year, Ambani announced the launch of a 4G-enabled feature phone priced at "effective" zero, that wooed low income users with life-long free voice calls and cheap data bundled with handset. Interestingly, Jio's first ever profit came just a day after rival and India's largest telecom operator Bharti Airtel reported a decline in consolidated net profit for the seventh straight quarter. Airtel's net profit came in at Rs 305.8 crore for the three month period ended December 31, 2017 bruised by the tariff war in the industry and cut in call connect charges.
