Reliance Jio has managed to clock over Rs. 4,000 crore in net profit in the first quarter of the financial year 2022-23 (FY23), according to the financial statement released by the company. It also reported an increase in the Average Revenue Per User (ARPU) from Rs. 167.6 to Rs. 175.7 during the quarter. Why it matters: Reliance is one of the most valuable companies in India and it has been looking to diversify its interests by venturing into e-commerce. The financial statement offers insight into how Reliance looks to challenge the dominance of start-ups. Moreover, Jio is the largest telecom operator in the country and its financial statement offers a glimpse into the state of the telecom sector. [caption id="attachment_165769" align="alignnone" width="880"] Source: Reliance[/caption] How did Jio perform: The company registered an uptick in its user base which saw an addition of 9.7 million. The total number of users stands at 419.9 million. The company earned gross revenue of Rs. 27,527 crore in the quarter which is a 20 per cent increase from last year. The statement revealed that the company facilitated nearly 26 exabytes of data on its servers. It also revealed that subscribers were consuming more than 20 GB of data on average per month. The company also claimed that they had 53 per cent of the total market share more than the combined market share of its competitors. How is Meta helping Reliance: The company officials revealed in a presentation that Meta's investment helped Reliance in developing…
- Here’s what streaming companies revealed in their compliance reports for Oct 2022 December 2, 2022
- FRT-based Digi Yatra project begins in three Indian airports on opt-in basis December 2, 2022
- Spotify CEO calls Apple “Shameless” For Engaging In Anti-Competitive Practices December 2, 2022
- Madhya Pradesh HC Grants State Government 3 Months to Draft and Clear Online Gambling Law: Report December 2, 2022
- Meta’s Nick Clegg Flags Encryption Concerns, Praises India’s Stance On Cross-Border Data Flow December 2, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...