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Jio This fall Outcomes Reliance Jio Internet Revenue Grows 177.5% In Fourth Quarter, Proclaims New Video Platform

Reliance Jio Profit Nearly Triples In March Quarter, Announces New Video Platform

The corporate’s This fall web revenue stood at Rs 2,331 crore

Reliance Industries’ telecom arm Reliance Jio on Thursday reported a 177.5 % development in revenue within the fourth quarter (January-March), to Rs 2,331 crore, up from Rs 840 crore, in the identical quarter final yr. So far as your complete monetary yr is anxious, Jio’s web revenue rose from Rs 2,964 crore in 2018-19 to Rs 5,562 crore in 2019-20, an annual enhance of 88 %.

In an official launch, the corporate acknowledged that as on March 31, its subscriber base stood at 38.75 crore, a 26.three per cent year-on-year development.

Its common income per person (ARPU), a key metric of how a lot income a telecom agency earned from a person person improved to Rs 130.6 per 30 days from Rs 128.four in the course of the earlier quarter.

With out divulging a lot particulars, the corporate additionally introduced the launch of a “nationwide video platform” known as JIOMEET.

The corporate, in its launch additionally detailed upon Fb’s Rs 43,574 crore funding so as to purchase 9.99 % stake.

Of the full funding, Rs 14,976 crore might be retained at Jio Platforms to drive future development, whereas the guardian firm Reliance Industries Restricted (RIL) will redeem optionally convertible desire shares (OCPS) value Rs 28,598 crore, the assertion stated.

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