Reliance Jio Q2 FY20: Net profit rises 45.4% YoY to Rs 990 cr

Reliance Jio witnessed subscriber growth with a net addition of 24 million during the quarter and 103 million during the previous twelve months

by exchange4media Staff
Published - Oct 18, 2019 8:14 PM Updated: Oct 18, 2019 8:14 PM
Reliance Jio

Reliance Jio Infocomm Limited posted standalone revenue from operations of ₹12,354 crores for Q2 FY 2020. Standalone EBITDA stood at ₹5,166 crores and EBITDA margin of 41.8%, while net profit stood at ₹990 crores.

Reliance Jio's subscriber base as on 30th September 2019 stood at 355.2 million with 40.8% YoY growth.  ARPU during the quarter was ₹ 120 per subscriber per month and Total wireless data traffic during the quarter is at 1,202 crore GB (55.9% YoY growth). Total voice traffic during the quarter is 81,262 crore minutes, a 52.2% YoY growth.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “Jio crossed the 350 million subscriber mark to remain the world's fastest-growing digital services company, and we are still adding more than 10 million new customers every month. Jio is not only India’s largest telecom enterprise in terms of subscribers and revenues but has also become the Digital Gateway of India. After tremendous success on mobile broadband connectivity business, Jio is now geared up to kick-start other growth engines – Home Broadband, Enterprise Services, Small & Medium Business connectivity, and Internet of Things (IoT). This along with digital platforms and solutions across Blockchain, Edge Compute, Artificial Intelligence, and Cloud infrastructure which have been developed by a strong talent pool within the Reliance Group would transform India into an AI-first economy across all sectors.”

Reliance Jio witnessed strong subscriber growth with a net addition of 24 million during the quarter and 103 million during the previous twelve months. Gross adds at 31.6 million stayed healthy with deeper 4G network presence and affordable tariffs continuing to attract first-time mobile internet users to Jio digital services. Monthly churn rate reduced sequentially and continued below industry average at 0.74%. Customer engagement continues to surprise positively with average data consumption per user per month of 11.7 GB (11.4 GB per user per month in the previous quarter) and average voice consumption of 789 minutes per user per month. Jio management has remained focused on offering the best value to its customers, and on driving customer engagement with the best-in-class content bouquet, seamless network performance and affordable tariff plans. Jio is committed to ensuring that no Indian is deprived of affordable Internet and fruits of the Digital Revolution.

Jio continues to deliver healthy financial performance primarily led by subscriber momentum and cost efficiencies. Quarterly operating revenue increased by 33.7% YoY to ₹ 12,354 crores. 

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