Q2 Results: Reliance Jio Profit Rises On Aggressive Subscriber Additions 

Reliance Jio Infocomm Ltd.’s profit rose in the quarter ended September on the back of strong subscriber additions due to the introduction of a newer version of its low-cost JioPhone.

The Mukesh Ambani-led telecom upstart, however, saw revenue and profitability improve due the pace of subscriber additions. It added more than 3 crore subscribers during the quarter and had 25.2 crore users as of September end.

Ambani will now look to extend his disruptive price war across related services as he plans to expand Jio into internet and cable television businesses. His firm has also rolled out JioPhone 2, an upgraded version of its best-selling feature phone. The 4G-enabled handset will support YouTube, WhatsApp and Facebook.

(Corrects an earlier version that misstated the profit estimate)