Reliance Jio Q2 2018-19 net profit stands at Rs 681 crore, a growth of 11.3 percent vis-a-vis Q1 2018-19 whereas total subscriber base has reached 252.3 million.
The company has shown a growth of 13.9% in operating revenue to reach Rs. 9,240 crore in Q2 2018-19 whereas value of services has reached Rs. 10,901 crore from Rs. 9,567 in Q1 2018-19.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries said, “Jio was conceived with a mission to connect everyone and everything, everywhere – always at the highest quality and the most affordable price. We, at Jio, are glad with our progress towards our mission with more than 250 million subscribers on our network within 25 months of commencement of services. We have enabled our customers to adopt the digital life, with record consumption of data and use of digital services. Our next generation FTTH and enterprise services are now being made available to our customers to further enhance our value proposition to our customers.”
We are making rapid progress on the growth of our digital platforms, across new commerce, media and entertainment, agriculture, education, healthcare and financial services, which will further enhance the quality of life and productivity of the people of India added Ambani.
Net subscriber addition for the company during the past twelve months was 114 million, which is the highest in the industry by a substantial margin. The growth in subscriber base is getting further accelerated with Monsoon Hungama offer for JioPhone, attractive post-paid offerings, and focused partnerships to deepen mobile data penetration in the country.
Customer engagement continued to grow with average data consumption per user per month of 11.0 GB and average voice consumption of 761 minutes per user per month. Video consumption drove most of the usage, increasing to 410 crore hours per month on the network; average video consumption of 17.5 hours per subscriber per month.
Reliance Industries has also announced strategic investments in and partnership with Den Networks and Hathway Cable and Datacom. Primary investment of Rs. 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs. 245 crore from the existing promoters for a 66% stake in Den Networks.
Primary investment of Rs. 2,940 crore through a preferential issue under SEBI regulations for a 51.3% stake in Hathway Cable and Datacom. The transactions are subject to customary regulatory approvals. These investments and partnerships will create a win-win outcome for the Local Cable Operators, consumers, content providers and overall eco-system.
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