Jio becomes second largest Indian telecom operator, profit zooms 45.6% to 891 crore
Reliance Jio becomes India's second largest telecom operator in subscriber base posted 45.6 percent rise in net profit for June quarter of 2019-20 to Rs 891 crore, and said the beta trials of its much anticipated 'JioGigaFiber services' is in the final lap.
Reliance Jio raced past Bharti Airtel to become the second largest mobile operator, as per May 2019 data released by telecom regulator TRAI.
For the first quarter ended June 30, Reliance Jio's operating revenue stood at Rs 11,679 crore, up 44 percent over the year-ago period. Jio's subscriber base stood at 331.3 million as on June 30, 2019.
The June quarter net profit at Rs 891 crore was 45.6 percent higher over the year-ago period and 6.1 percent increase when seen sequentially. The company has recorded profit after tax of Rs...