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Reliance Jio records Rs 2,520 Cr profit, adds 15 million new users in June quarter

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Reliance Jio recorded profits of Rs 2,520 crore in the June quarter. Its operating revenues grew 33.7 percent to reach Rs 16,557 crore. The telecom network also recorded a gross addition of 15 million new users in the quarter, taking its total subscriber base to 398.3 million. This is higher than the valuations of internet economy giants like Zoom ($42 billion), Uber ($35 billion), Twitter ($34 billion), and Airbnb ($26 billion). Industry experts believe that Reliance is looking for a $100-billion IPO for Jio in foreign shores.

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