Reliance Jio Infocomm posted a net profit of Rs 504 crore for the fiscal third quarter, its first within 15 months of start of commercial operations, buoyed by strong subscriber additions and cost efficiencies, including sharply lower payments on account of interconnect charges.

The Mukesh Ambani-owned company, which upended the market since its entry in September 2016 with its initially free voice

and data and now much cheaper mobile internet services, has posted a revenue of Rs 6.879 crore, up nearly 12% on quarter. India’s fourth largest telco by user base had recorded a net loss of Rs271 crore in the previous three-month period ended September, which was also the first quarter when it formally reported results.

“Jio’s strong financial result reflects the fundamental strength of the business, significant efficiencies and right strategic initiatives. Jio has demonstrated that it can sustain its strong financial performance,” Mukesh D. Ambani, Chairman, Reliance IndustriesBSE 1.87 % Ltd., also Jio’s parent.