Reliance Jio Q2 net profit grows 45%

Reliance Jio Q2 net profit has grown by 45% to reach Rs. 990 crore in comparison to Rs. 681 crore Q2 quarter a year ago.

Operating revenue increased by 5.8% to reach Rs. 12,354 crore whereas EBITDA reached Rs. 5,166 crore showing a growth of 10.2%

Reliance Jio is the world’s second largest single country operator with 350+ million subscribers and has added 103 million subscribers in the last 12 months. Data traffic for Jio grew by 56% YoY whereas voice traffic grew by 52% YoY.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries 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, SMB connectivity and Internet of Things (IoT). This along with digital platforms and solutions across blockchain, edge compute, artificial intelligence (AI) 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,” added Ambani.

Gross adds at 31.6 million stayed healthy with deeper 4G network presence (nearing 99% of population) and affordable tariffs continuing to attract first time mobile internet users to Jio digital services.

The average data consumption per user per month stands at 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 has witnessed more than 3x increase in voice and data traffic on its network, over the past two years. However, with >750K eNodeBs (across 800 MHz/1800 MHz/2300 MHz bands) deployed on 4G-LTE, Jio continues to be by far the industry leader in terms of network capacity and performance (average download speed of 21.3 Mbps during August 2019, as per TRAI).

After successful beta trials of FTTH services, Jio announced rollout of home and enterprise services and have received strong interest across 1,600+ cities where services would be launched initially. The process of converting >0.5 million existing trial users to paid bundled plans is ongoing.

 

 

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