Reliance Jio net profit up 45.6% reaches Rs. 891 crore

Reliance Jio Q1 2019 net profit increased to Rs. 891 crore, an increase of 45.6% vis-a-vis Q1 2018 net profit of Rs. 641 crore.

Standalone revenue from operations reached Rs. 11,679 crore, an increase of 44% y-o-y. EBITDA margin stands at 40.1% which has driven EBITDA to Rs. 4,686 crore during the quarter.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries said, “Growth in Jio mobility services has continued to surpass all expectations. In less than two years of commercial operations, Jio network carried almost 11 exabytes of data traffic during the recently concluded fiscal quarter. Jio management is focused on giving unmatched digital experience at most affordable price to every citizen of the country, and accordingly expanding the network capacity and coverage to keep pace with demand. Jio has started connecting enterprises with its next-gen connectivity solutions on the back of its extensive fiber network across the country.”

Beta trials of JioGigaFiber services have been very successful and the entire bouquet of smart home solutions would soon be rolled out to 50 million households and beyond. Jio is committed to power the digital revolution in India through its technology platforms across communication, entertainment, commerce, financial services, education, healthcare, agriculture and beyond,” added Ambani.

Strong subscriber growth with net addition of 24.5 million during the quarter and 116 million during the previous twelve months has taken the overall tally to 331.3 million. Deeper 4G network presence and simpler tariff structure is continuing to attract first time mobile internet users to Jio digital services.

Customer engagement was robust with average data consumption per user per month of 11.4 GB and average voice consumption of 821 minutes per user per month.

Ongoing beta trials of JioGigaFiber services is in its final stages, and early signs have been very encouraging. Enterprise services are also being rolled out gradually.

The company has a Pan-India distribution channel with over 1 million retailers for customer acquisition and selling prepaid recharges. Efficient sales channel with simplified tariff structure continues to deliver with monthly gross subscriber additions at more than 11 million during the quarter.

 

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