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Reliance Jio reports Rs 504 crore profit for Q3 FY18, has 160 million subscribers

Reliance Jio

We missed this earlier. Reliance Jio Infocomm Limited (Jio) reported a profit of Rs 504 crore for the quarter ended December 31, 2017 (Q3 FY18). Its operating revenue for the period stood at Rs 6,879 crore, while its EBITDA for the quarter stood at Rs 2,628 crore, representing growth of Q-o-Q growth of 11.9%. The company posted EBITDA of Rs 1443 crore, up 82.1% Q-o-Q. In the previous quarter, the company had posted a loss of 271 crores, with an operating revenue of Rs 6,147 crore and EBITA of Rs 2,628 crore. The sudden and spectacular jump from a loss to massive profit may have more than meets the eye. This has to do with Jio's parent company absorbing some of the shock for the telecom upstart. "Reliance Jio is NOT profitable. The accounting is like this. Reliance INDUSTRIES takes a loan. Buys shares of Jio. Jio doesn't have to pay interest since hey, equity. Jio shows profit because it has to pay no interest. But Reliance Industries pays the interest," Deepak Shenoy, the founder and CEO of Capitalmind tweeted At the end of the quarter (December 31), the company claims to have had 160.1 million subscribers, up 15.5% from 138.6 million in the previous quarter. The company doesn’t mention how many of these are active. According to data released by TRAI, in November 2017 only 81.45% of Reliance Jio’s 152.07 million connections were active: a total of 123.86 million. Subscriber metrics Data consumption:  9.6 GB per month per user. This number…

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Writes about consumer technology, social media, digital services and tech policy. Is a gadget freak, gamer and Star Wars nerd.

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