We missed this earlier. Reliance Jio reported a net profit of Rs 990 crore in Q2FY20 — up about 45.3% from Q2FY19 when it posted a net profit of Rs 681 crore. In comparison, Jio’s biggest rivals Bharti Airtel and Vodafone Idea posted a combined loss of about Rs 74,000 crore, making Jio the only profitable telecom company this quarter among the country’s top 3 telcos. Compared to the last quarter, Jio’s net profit increased by 11%. While the Supreme Court’s recent verdict on the payment of Adjusted Gross Revenue hit Bharti Airtel and Vodafone Idea the most, Jio, which began operations in late 2016, was the least affected because it only had to pay Rs 14.5 crores in charges to clear. When the Cellular Operators Association of India (COAI) wrote to the Department of Telecommunications last month, seeking its intervention in the SC judgement that ordered telecom companies to pay Rs 92,640 crores to the Centre, Jio criticised it. It said that Airtel and Vodafone’s financial difficulties were their own doing and an effect of their own commercial decisions. ARPU falls, but subscribers increase: Operational figures Revenue for the quarter was Rs 12,354 crore as it grew 5.8% from Rs 11,679 crore in the last quarter. Jio’s revenue is less than Bharti Airtel’s (Rs 21,131 crore), and more than Vodafone Idea’s (Rs 10,840 crore). Average Revenue Per User (ARPU) remained a worrying statistic for Jio as it fell to Rs 120 this quarter from Rs 122 in the previous…
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