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Reliance Jio beats Street, tariff hike lifts Arpu after three quarters | Mint

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Reliance Jio, the telecom arm of Reliance Industries, has reported better-than-expected results for the September quarter. The company's net profit rose 14.76% q-o-q to ₹6,539 crore, while revenue from operations increased 7.67% q-o-q to ₹31,709 crore. The Ebitda also surpassed estimates, rising 17.8% to ₹15,931 crore. Jio's average revenue per user (Arpu) in September was ₹195.1, up 7.4% y-o-y and sequentially. The company also added 4.2% more customers, taking the total to 479 million. However, Jio lost 10.9 million subscribers in the quarter, higher than expected.