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NEW DELHI: Reliance Jio , the 4G entrant has reported a profit of Rs 504 crore for the third quarter of the ongoing fiscal year against Rs 271 crore in the previous quarter. Its bigger rival Bharti Airtel reported over 39% decline in the third quarter on Thursday.
The Mukesh Ambani-owned company which upended the market with its initially free voice and data and now much cheaper mobile internet services has posted a revenue of Rs 6.879 crore, up nearly 12% on quarter. Voice calls remain free for life for the 160 million plus subscribers of the operator, which has come out with tariff plans across price ranges and even cash back offers to get more market share.
Jio’s average revenue per user (ARPU) - a key performance parameter - stood at Rs 154, the same as in the fiscal second quarter. Market leader Bharti Airtel saw its ARPU plummet to Rs 123 during the same period.
"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 D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.
Reliance Jio reports Rs 504 crore profit in Q3, ARPU at Rs 154 - ET Telecom
The Mukesh Ambani-owned company which upended the market with its initially free voice and data and now much cheaper mobile internet services has posted a revenue of Rs 6.879 crore, up nearly 12% on quarter. Voice calls remain free for life for the 160 million plus subscribers of the operator, which has come out with tariff plans across price ranges and even cash back offers to get more market share.
Jio’s average revenue per user (ARPU) - a key performance parameter - stood at Rs 154, the same as in the fiscal second quarter. Market leader Bharti Airtel saw its ARPU plummet to Rs 123 during the same period.
"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 D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.
Reliance Jio reports Rs 504 crore profit in Q3, ARPU at Rs 154 - ET Telecom
