Reliance Jio Q1 net profit up 20% to Rs 612 cr

Telecom major Reliance Jio on Friday reported a 19.9 per cent growth in net profit at Rs 612 crore for April-June 2018 over the previous quarter, and said its strong first quarter performance is "despite competitive intensity". The company had registered a net profit of Rs 510 crore in the January-March 2018, Reliance Jio said in a statement. The Reliance Industries' telecom arm had posted a loss of Rs 21.27 crore in the quarter ended June 2017. Reliance Jio's revenue from operations came in at Rs 8,109 crore in the June quarter, up nearly 14 per cent from the fourth quarter of FY'18. Its subscriber base was at 215.3 million at the end of June. (Text: PTI)