Reliance profits boosting in Q1

Reliance profit rose to Rs. 2,520 Crore in the first quarter, alongside a massive boost in data usage.

This the 11th profitable quater in a row that Reliance have faced, and this quater the profits have sky-rocketed and trippled for the firm. This is testament to the increased tariff, addition of new customers, and lower finance costs.

As the subsidies acquired by Reliance Industries and Reliance Jio have decreased the costs of production the profits have faced an increase of 182.8%. The usage of Jio's Data has risen by 30% this quarter and moving up to a 1,420 Crore GB usage.

Due to the nationwide lockdown, the monthly smartphone usage rate has gone upto 12 hours per month, and the average data usage has moved upto 12 GB. This boost has somehow benefited the politically supported Reliance, where as most large Indian firms are facing trouble in meeting and funding their general variable costs.