Reliance Jio reported a stand alone net profit of Rs 840 crore just for the quarter ending on March 31, on Thursday. Reliance Jio, the telecom arm of Reliance Industries, saw a net profit jump of 64.7 per cent as compared to the last corresponding period where the profit was Rs 510 crore.
The net profit for the financial year 2018-19 was Rs 2,964 crore, Reliance Jio said in a regulatory filing on Thursday. The company had posted a net profit of Rs 723 crore during 2017-18, said the firm.
ALSO READ: Reliance Industries eyes acquisition of British toymaker Hamleys
Reliance Jio’s consolidated profit saw a growth of 9.8 per cent to Rs 10,362 crore for the fourth quarter that ended March 31, the company said in a statement.
Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited (RIL), said: “We at Jio are truly overwhelmed and proud to now serving over 300 million subscribers. Growth in data and voice traffic at this scale has been unparalleled.”
He also added that Jio’s network is currently one of the largest mobile data networks in the world. The endeavour of the company is to give gold standard digital experience to all our users across the country.
“After successful execution of mobility business, Jio is now focused on catapulting India’s underserved home and enterprise connectivity market to global standards with its next-generation FTTX services,” he said.
“Jio mobility services along with Gigafiber fixed-broadband services and associated technology platforms have been designed to transform India with the power of digital revolution and reinvent Reliance as a technology platform company,” he said.
(With inputs from ANI)