New Delhi: Reliance Industries Ltd's December-quarter profit jumped 13.5% to another record, as the Indian oil-to-telecoms conglomerate headed by Asia's richest man Mukesh Ambani benefited from steady double-digit growth at its consumer-facing units.
The telecom arm of Reliance Industries, Jio on Friday posted a 62.5 per cent jump in its standalone net profit at Rs 1,350 crore for the October-December quarter of FY 2019-20. Jio had posted a net profit of Rs 831 crore in the corresponding quarter a year ago.
The company recorded an increase of 28.3 per cent in its operating revenue at Rs 13,968 crore as compared to Rs 10,884 crore in the year-ago period.
"Jio has continued on its unprecedented growth journey receiving overwhelming customer response for best in class mobile connectivity services. Jio is also determined to redefine the wireline infrastructure, home entertainment and enterprise market in India with its FTTx services which bundle best-in-class connectivity with bouquet of digital content and services," RIL Chairman and Managing Director Mukesh Ambani said in a statement.
He said that a truly transformational and disruptive digital services company has also been set up to drive the next leg of growth.
Reliance Jio subscriber base increased by 32.1 per cent as on December 31, 2019 on year-on-year basis to 37 crore and average revenue per user stood at Rs 128.4 during the quarter.
Total wireless data traffic during the quarter on its network increased by 39.9 Y-o-Y basis to 1,208 crore GB, and voice traffic during the quarter jumped 30.3 per cent to 82,640 crore minutes.
Reliance, which runs the world's biggest oil refining complex, said gross refining margin - the profit earned on each barrel of crude oil processed - was $9.2 per barrel, slightly lower than the previous quarter but better than a year earlier.
