Reliance Jio net profit up 12% on year-ago

In the quarter ending December 31st, 2021, Telco major Reliance Jio had a net profit of Rs 3,615 crore, up 12%. The net profit of the Mukesh Ambani-owned telco was 3,291 crore in the year-ago period.

Revenue from operations for Reliance Jio stood at Rs 19,347 crore compared to 18,492 crore in the same quarter last fiscal.

The ARPU increased by 8.4% on a year-on-year basis.

According to the data released by the Telecom Regulatory Authority of India TRAI, Jio maintained its top position in the 4 G speed chart with a 22.0 Mbps average download speed in December 2021.

During the quarter, Jio and Google had announced the launch of JioPhone Next, with a entry price of only Rs 1,999 and the rest being paid over 18 24 months via easy EMI.

The company's EBITDA earnings before interest, tax, depreciation and amortisation came in at 10,008 crore a year ago, higher by 18% year-on-year, and with this, the quarterly EBITDA has crossed Rs 10,000 crore for the first time.