Reliance Jio Q1 ’20-21 revenue up 33.7%; Profit up 183%

The Q1 FY 2020-21 operating revenue for Reliance Jio Infocomm Limited (RJIL) has increased 33.7% YoY to Rs. 16,557 crore with EBITDA margin of 44%.

The company has shown strong EBITDA growth of 55.4% YoY to Rs. 7,281 crore driving net profit to Rs. 2,520 crore during the quarter, showing a growth of 183% YoY.

Commenting on the results, Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited said, “Jio started with a vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India. Thirteen investors, which include the largest technology companies and investors globally, now share a common vision with us.

Jio Platforms Limited with partnerships across promising Indian startups and globally renowned technology companies is set to drive the next leg of hyper growth for digital businesses. Our growth strategy is aimed at meeting the needs of all the 1.3 billion Indians. We remain focused on playing a leading role in India’s transformation into a Digital Society.”

Total customer base as of 30th June 2020 was 398.3 million with strong wireless gross addition of 15.1 million during the quarter despite Covid related restrictions across the country.

Customer engagement has increased during the quarter with national lockdown driving average wireless data consumption per user per month to 12.1 GB and average voice consumption to 756 minutes per user per month.

The process of converting initial test users to paid-plans is largely complete with more than 1 million home users connected with Jio FTTH services. Average usage across the user base has witnessed a significant increase due to work from home and learning from home.

Our rollout of services for large enterprises continues. Jio’s enterprise-grade voice and data services in combination with cloud-based solutions would bring digitisation of Indian SMEs at par with large connected enterprises.

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