Reliance Jio, which is being blamed for fierce tariff war in the telecom sector and for the drop of revenues of other telecos, has turned profitable since it launched its services in September 2016.
Reliance Jio said it posted net profit of Rs 504 crore for the three months ended December 31, 2017, against a loss of Rs 271 crore in September quarter.
Ambani had returned to the telecom sector in September 2016 with Jio’s disruptive offerings of free voice and data that weaned away subscribers from established operators.
Just recently Bharti Airtel, the No 1 telecom operator in India in terms of total users, reported 39 per cent drop in its revenues for the December quarter. It is also seventh straight quarter of profit decline for Airtel.
Jio’s subscriber base as on December 31, 2017 stood at 160.1 million.
The operators said that its Average Revenue Per User is Rs 154 per subscriber per month. The total wireless data traffic in Jio’s network was 431 GB per month or about 9.6 GB per user per month. Video consumption has also crossed 200 crore hours per month.
Meanwhile, Jio said that it is on track to achieve 99% population coverage during the year.