INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Reliance Jio Infocomm net profit grew 1.2 per cent sequentially in the fourth quarter, helped by strong subscriber additions
However, average revenue per user (ARPU) fell sequentially triggered by the sharp cut in its base offer to JioPhone users at Rs 49/month,
and users moving to lower priced bundled plans.
The Mukesh Ambani-owned company, which upended the market since its entry in September 2016
with its initially free voice and data and now much cheaper mobile internet services, posted profit of Rs 510 crore compared with Rs504
crore in October-December.
Revenue rose 3.6% sequentially to Rs 7,128 crore
crore, but has since then, turned into black, reporting back to back profits
competitive market environment demonstrates the robustness of the Jio business model and ability to offer the most value to our customers
