Reliance Jio’s Profit leaps in the December Quarter to INR 3,489 crores

The network provider Jio increased its net profit to INR 3,489 crores in the December quarter with an overall customer base of 410.8 million as of 31st December 2020.
Mukesh Ambani seeing his company's profit skyrocketing.

The telecom subsidiary of Reliance Industries, Reliance Jio cropped a total profit of INR 3,489 crores in the Q3 December Quarter, an overall increase of 15.5 percent on the previous quarter. During the September Quarter, it clocked a profit of INR 2,844 crores.

Reliance Jio as of December 31, 2020, had a huge customer base of 410.8 million. During Q3, the average revenue per user rose to INR 151 per subscriber from INR 145 in the previous quarter.

The total revenue was INR 22,858 crore which included access revenues for the quarter, an increase of 5.3 percent over the previous quarter.

Earnings before interest, depreciation, taxes and amortization for the quarter was clocked at INR 8,483 crores which was a calculated increase of 6.4 from the past quarter.

During the December quarter, Jio issued equity shares to Google International LLC and raised INR 33,737 crores.

The total traffic data increased to 1,586 Crore GB, while the voice traffic to 97,496 crore minutes and the company added over 25.1 million users to its base in the Q3 despite the Covid situations.

Jio in 2020, has seen immense growth in its revenue despite the pandemic and received investments from some of the top ventures and is on continuous upward growth.