Reliance Jio’s Ist quarter revenue reaches Rs. 7,213 Cr

Reliance Jio, the world’s fastest growing digital services platform has reported consolidated revenue of Rs. 7,213 crore.

The total standalone services revenue is Rs. 6,214 crore and consolidated EBIT of Rs. 261 crore. Net loss for the period is Rs. 270.59 crore.

Jio’s had 138.6 million subscribers as on September 30, 2017. Around 15.3 million net subscriber addition happened during the quarter.

The per capita data consumption stands at 9.62 GB/user/month whereas per capita voice consumption stands at Rs. 626 minutes per month. In terms of video consumption, it was 178 crore hours per month making Jio the world’s largest mobile video network.

In terms of VoLTE calls, Jio users made 267 crore minutes of VoLTE calls per day during the quarter.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, “The world is transforming, turning digital and India is not going to be left behind. India is ready to go digital, move from voice to data and Jio is creating the foundation of data for the next generation business. The rapid uptake of Jio services reflects the latent need of the society. We are confident that Jio will bring significant benefits to the Indian economy and the Indian customers and will take India to a much higher pedestal. We are focussed on providing multi-layered digital services on top of the basic connectivity service to optimally utilise our world class infrastructure.”

“The strong financial results of Jio demonstrates the robust business model of Jio and the significant efficiencies that the Company has built through its investment in the latest 4G technology and right business strategy. As always, the Group has demonstrated excellence in execution, vision and commercial acumen.”

During the quarter, around 27 million LTE smartphones were sold in India. On gross add basis, Jio achieved over two-third market share of the incremental smartphones sold in the country and claims to have 85 per cent share in the LTE smartphone base in the country.

Jio continues to make progress for delivering enterprise solutions, FTTH and IoT with beta trials initiated in few locations. These services are being offered using the same integrated network and platforms.