Reliance Jio posts net profit of Rs 5.1 bn in Q4; subscriber base up 16%

The Mukesh Ambani-led telco, however, saw an 11 per cent drop in average revenue per user

Telecom disrupter Reliance Jio closed the year ended March on a high note, reporting a net profit of Rs 5.1 billion in the fourth quarter (Q4) of 2017-18, which was in line with Street estimates. Revenue stood at Rs 71.28 billion, up 3.6 per cent sequentially, from Rs 68.81 billion in the quarter ended December 2017 (Q3). 

The January-March 2018 period was the second consecutive profitable quarter for Jio, which closed FY18 with a net profit of Rs 7.23 billion aided by an operating profit of Rs 67.34 billion ($1.1 billion).

The Mukesh Ambani-led telco, however, saw an 11 per cent drop