Reliance Jio posts 28% rise in quarterly profit as telecom adds more users

India's biggest telecom carrier by subscribers said net profit rose to Rs 4,518 crore ($545.2 million) in the second quarter ended September, from Rs 3,528 crore a year ago.

A man walks across the LED board showing the logo of Jio at Pragati Maidan in New Delhi | Reuters file photo

Bengaluru: Reliance Jio, the telecom arm of Indian billionaire Mukesh Ambani-led conglomerate Reliance Industries Ltd, reported a 28.1% increase in quarterly profit on Friday, as it added more users.

India’s biggest telecom carrier by subscribers said net profit rose to 45.18 billion Indian rupees ($545.2 million) in the second quarter ended Sept. 30, from 35.28 billion rupees a year ago. –Reuters

($1 = 82.8660 Indian rupees)