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Reliance Jio has revolutionised the Indian market, bringing very low-cost tariffs to the subcontinent
Indian telecoms firm Reliance Jio has posted a profit in its quarterly reporting for the first time since it began its operations in September 2016.
The company posted EBITDA of $412 million, with net profits of nearly $80 million.
“I would like to thank all our customers for partnering with us in this revolution which has made India a global digital powerhouse. I congratulate all our employees and partners for the strong performance. Our commitment is to keep pushing newer innovative products which would radically transform customer lives and generate huge societal value," said chairman and managing director of Reliance Jio, Shri Mukesh D. Ambani.
In a statement that accompanied the report, Reliance Jio said that its customer base had reached 160.1 million, making it India’s largest wireless data subscriber base, with the gap widening to other operators. This figure has increased by 27.8 million during the quarter.
"Jio also continues to have a dominant share of all the new LTE smartphones sold in the country," read the statement.
Reliance Jio has revolutionised the Indian market, bringing very low-cost tariffs to the subcontinent. It’s Average Revenue Per User was just $2.41, with each user using an average of 9.6 GB of data per month.
