Billionaire Mukesh Ambani-led Reliance Industries’ telecom arm, Reliance Jio Infocomm, on Friday reported a net profit of Rs 2,844 crore in the July-September period. That marked a nearly three-fold jump compared to its net profit of Rs 990 crore in the corresponding quarter a year ago, boosted by a rise in data usage from a coronavirus-fuelled shift to remote working.
In a regulatory filing after market hours, Reliance Jio Infocomm said its revenue from operations rose to Rs 17,481 crore in the quarter ended September 30, from Rs 13,130 crore in the year-ago period.
Its average revenue per user (ARPU) – a key measure of profitability – rose to Rs 145 per month in the three months to September 30, from Rs 140.3 per month in the previous quarter.
The company said its earnings before interest, taxes, depreciation and amortization (EBITDA) margin rose to 43.1 per cent in the July-September period, from 42.5 per cent in the previous quarter.
Reliance Jio said it has evaluated the implications of the coronavirus pandemic, and has determined that there is no significant impact on its financial position and performance.
Reliance Jio Infocomm asserted that Jio has become the only operator outside China to have reached the milestone of 40 crore subscribers in a single country market.