Reliance Jio net profit jumps 45% to ₹3,651 crore in Q1

Our Bureau Mumbai | Updated on July 24, 2021

Quarterly operating revenue grew 19% to ₹18,952 crore   -  Bloomberg

Retail arm profit more than doubles to ₹962 crore

Reliance Jio reported net profit of ₹3,651 crore for the first quarter of the current fiscal, a growth of 45 per cent compared to ₹2,519 crore in the same quarter last fiscal.

‘Superior service’

“Jio has posted yet another record quarterly performance with industry leading operating metrics. I am thankful to Jio’s family of loyal subscribers whose number has grown further during the quarter, consolidating its position as India’s No. 1 provider of digital connectivity and services. They appreciate our continuing focus on raising the bar for superior service quality,” said Mukesh Ambani, Chairman, Reliance Industries Ltd.

Quarterly operating revenue was ₹18,952 crore , a growth of 19 per cent driven by continued subscriber traction in connectivity business. Average Revenue Per User during the quarter was ₹138.4 per subscriber per month. During the first quarter, average data consumption per user per month increased to 15.6 GB while average voice consumption was at 818 minutes per user per month.

Reliance Retail

Reliance Retail, the retail arm of Reliance Industries Ltd (RIL) reported ₹962 crore net profit a jump of 123 per cent year-on-year (y-o-y) compared to ₹431 crore in the corresponding period last year.

Reliance Retail delivered gross revenue of ₹38,547 crore, a growth of 21.9 per cent y-o-y. Store expansion was constrained during the quarter as the business opened 123 stores taking the total count to 12,803. Another 700+ stores in the pipeline will be commissioned as curbs are lifted, said a press statement.

Published on July 23, 2021

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