Jio reports first ever net profit of Rs 504 crore

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On Friday reported a 25.1 %  jump in net profit at Rs 9,423 crore for the quarter ended December 2017 as against Rs 8,109 crore in September 2017.

Jio company’s revenue increased by 30.5 %. The increase in consolidated revenues reflect the robust growth in retail business and continued enhancement in Jio’s wireless operations, the country’s largest private conglomerate said in a press release.

This company which disrupted the country’s telecom industry with free voice and cut-price data, swung to a profit of Rs 504 crore in the third quarter. It had a loss of Rs 271 crore in the second quarter.

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