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Reliance Jio Q1 Net rises 45.6% to Rs 891 crore

Reliance Jio posted EBITDA of Rs 4,686 crore, up 49 percent year-on-year and an EBITDA margin of 40 percent, the company said in a statement. Jio made with gross subscriber additions of 33.8 million in the quarter, it added.

Reliance Jio Q1 Net rises 45.6% to Rs 891 crore

New Delhi: Reliance Jio on Friday reported a 45.6 percent year-on-year rise in its net profit to Rs 891 crore for the first quarter ended June 30, 2019.

Parent company Reliance Industries Limited (RIL) reported a 6.8 percent year-on-year rise in its net profit to Rs 10,104 crore for the first quarter.

Reliance Jio posted EBITDA of Rs 4,686 crore, up 49 percent year-on-year and an EBITDA margin of 40 percent, the company said in a statement. Jio made with gross subscriber additions of 33.8 million in the quarter, it added.

Despite larger consumer base across tariff plans, customer engagement is improving with higher data usage of 11.4 GB per user per month. VoLTE voice consumption per sub is at 821 minutes per month, ARPU is at Rs 122, it said.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited 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”.

“Beta trials of JioGigaFiber services have been very successful and the entire bouquet of smart home solutions would soon be rolled out to targeted 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,” he added.

Meanwhile, a report by Telecom regulator Telecom Regulatory Authority of India (TRAI) showed today that Reliance Jio has piped Bharti Airtel to become India's second largest mobile operator in the month of May, with 32.29 crore subscribers.

Jio had 322987567 telecom subscribers in May as compared to 314807219 subscribers in April 2019. While Bharti Airtel had 320383358 subscribers in May as compared to 321891732 subscribers in April. Jio also had net addition of 8180348 subscribers for the month of May, TRAI data showed.