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Last Updated : Jul 19, 2019 08:14 PM IST | Source: Moneycontrol.com

Reliance Jio Q1 profit rises 6.1%, operating income beats street expectations

The subscriber base at the end of Q1 was higher than analyst expectations of around 30.67 crore.

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Reliance Jio, the country's second largest telecom operator, started off the financial year 2019-20 on a strong note, reporting a 6.1 percent sequential growth in profit at Rs 891 crore with subscriber base at 33.13 crore in Q1 against 33.25 crore in previous quarter.

The subscriber base at the end of Q1 was higher than analyst expectations of around 30.67 crore.

Revenue, during the quarter -- Rs 11,679 crore -- has risen by 5.2 percent compared Rs 11,106 crore reported in the March quarter.

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At the operating level, Jio beat analyst expectations by a wide margin in Q1. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 8.2 percent sequentially to Rs 4,686 crore and margin expanded to 40.1 percent in Q1, from 39 percent in the March quarter.

However, average revenue per user declined to Rs 122 in Q1, from Rs 126.2 in the March quarter and Rs 134.5 in the year-ago period.

Disclaimer: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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First Published on Jul 19, 2019 07:14 pm
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