Reliance Jio on Thursday posted 177.5 per cent year-on-year rise in net profit to Rs 2,331 crore for the three months ended March 31, fuelled by rising subscriber base and recent tariff hike.
The net profit of Jio stood at Rs 840 crore in the year-ago period.
Seen sequentially, the net profit grew 72.7 per cent when compared to Rs 1,350 crore in December quarter (Q3FY20).
Jio’s standalone revenue from operations for the fourth quarter stood at Rs 14,835 crore, which translates into year-on-year growth of 26.6 per cent.
Commenting on the Q4 results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said, “Jio is embarking on the next leg of growth with a path-defining partnership with one of the world’s largest digital companies, Facebook”.
“We are together determined to make India a truly digital society with best-in-class connectivity network complemented with disruptive digital technology platforms for entertainment, commerce, communication, finance, education and health harnessing world’s best tech capabilities. Our focus will be India’s 60 million micro, small and medium businesses, 120 million farmers, 30 million small merchants and millions of small and medium