Reliance Jio emerges as India's biggest telecom player

NEW DELHI: Within three years of starting its commercial operations, Reliance Jio has become the country’s largest telecom operator with a subscriber base of 331.3 million, surpassing Vodafone Idea which on Friday reported a decline in its user base to 320 million by June 2019.

According to the financial results reported by Reliance Industries last week, its subsidiary Reliance Jio had a user base of 331.3 million by June 2019.

Reliance Industries profit rises 6.8% in June quarter

Oil-to-telecom major Reliance Industries (RIL) on Friday reported a 6.8 per cent growth in consolidated year-on-year profit. RIL’s profit in June quarter stood at Rs 10,104 crore from Rs 9,459 crore posted in the same quarter previous year, the company said in a notification to exchanges.

Mukesh Ambani-led firm Jio had pipped Bharti Airtel in May to become the second largest mobile operator with 322.9 million users and 27.80 per cent market, according to Trai data. Airtel had 320.38 users or 27.6 per cent market share.

Reliance Jio’s Q1 net profit zooms 45.6% to Rs 891 crore

Mukesh Ambani-led Reliance Jio on Friday reported 45.6 per cent rise in its net profit to Rs 891 crore for June quarter of 2019-20. The company had recorded profit after tax of Rs 612 crore in the same period previous year. Sequentially, the net profit for just-concluded period was 6.1 per cent higher than Rs 840 crore notched in the three months ended March 2019.

Vodafone Idea on Friday reported a decline in its customer base to 320 million in the first quarter of 2019-20 from 334.1 million in the March quarter.

“Our subscriber base declined to 320.0 million from 334.1 million in fourth quarter of financial year 2019 primarily due to customer churn following the introduction of ‘service validity vouchers’ in the prior quarters,” Vodafone Idea said in a statement.

Vodafone Idea had emerged as the largest telecom operator with over 400 million subscribers after Vodafone India and Idea Cellular completed the merger of telecom services business.

However, the merged entity continued to lose customers every month and later it wrote off million of customers who did not subscribe to its minimum recharge plan.

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