Even in the midst of a pandemic and its recession thereafter, Jio continues to report eye-watering growth.
Indian telco Reliance Jio has laid claim to be the only telco outside China to boast a customer base of over 400 million people while reporting its second-quarter results. At the end of the quarter on September 30, the telco said it now has 405.6 million subscribers, an increase of 1.8% over the three months. On the fiscal numbers, the reporting group containing the telco, Jio Platforms, posted revenue of ₹21,708 crore, approximately $2.9 billion, which represented a quarter-on-quarter increase of 7.1%. Earnings before interest, tax, depreciation, and amortisation increased 8.7% quarterly to ₹7,971 crore, and net profit was reported as jumping almost 20% compared to last quarter to be ₹3,020 crore. While the Jio Platforms group only reported quarterly comparisons, the vast bulk of the platform group Reliance Jio Infocomm, allowed for year-on-year comparison.
