Reliance Jio Q1 net profit rises to Rs 612 crore, up by 20%

Mukesh Ambani led Reliance Industries today unveiled its Q1 results and it showed a massive rise in consolidated profit to a record Rs 9,459 cr with earnings from petrochemical nearly doubling. However, while that is big news indeed, what everyone wanted to know was how RIL's telecom arm Reliance Jio was doing. It had logged a surprising profit last time. This time too it did not disappoint as Reliance Jio standalone net profit jumped 19.9 per cent to Rs 612 crore for the three month period ended on June 30, 2018 vis a vis the previous quarter.

Reliance Jio had registered a net profit of Rs 510 crore in the January-March 2018.

Reliance Jio revenue from operations was Rs 8,109 crore in the June quarter, which was a rise of nearly 14 per cent from the fourth quarter of of previous fiscal.

Significantly, Reliance Jio subscriber base was 215.3 million as on June 30, 2018. In his reaction, Reliance Industries Chairman and Managing Director Mukesh Ambani said, "Jio continues on its path to drive digital revolution in India. We doubled our customer base and most user metrics in the last 12 months. 215 million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world."

As far as the numbers are concerned, then Reliance Jio standalone revenue from operations came in at Rs 8,109 crore, which was a jump of 13.8% QoQ. Its standalone EBITDA  was Rs 3,147 crore, a growth of 16.8% QoQ and EBITDA margin was 38.8%.

Reliance Jio said in a statement that it had logged the lowest churn in the industry at 0.30% per month.

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About the most critical component of the report, which is Average revenue per user (ARPU), the company said that it recorded Rs 134.5/subscriber per month in the quarter. 

Reliance Jio total wireless data traffic during the quarter was 642 crore GB while total voice traffic during the quarter was 44,871 crore minutes.