The telecom arm of Mukesh Ambani led Reliance Industries reported third consecutive quarterly net profit indicating that its strategy to provide data plans to customers at dirt cheap prices was paying off. The gain was visible not only in the subscriber numbers but also in the profit figures. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Among the major milestones that it managed to pass was that RJio crossed the 200 mn subscribers mark within 21 months of having started its operations. This gave it an industry leading subscriber figure of 215.3 mn and pushed data consumption to a record 642 crore GB in quarter, which was about 10.6GB per user per month. That it was doing well as a business despite the fierce rivalry in the sector was clear from the fact that it logged a strong financial performance  with an EBITDA growth of 16.8% QOQ to Rs 3,147 cr.

Here are the highlights of quarterly performance by Reliance Jio

* Standalone revenue from operations of Rs 8,109 crore (13.8% QoQ growth)
* Standalone EBITDA of Rs 3,147 crore (16.8% QoQ growth) and EBITDA margin of 38.8%
* Standalone Net Profit of Rs 612 crore
* Subscriber base as on 30th June-18 of 215.3 million
* Lowest churn in the industry at 0.30% per month
* ARPU during the quarter of Rs 134.5/ subscriber per month
* Total wireless data traffic during the quarter of 642 crore GB
* Total voice traffic during the quarter of 44,871 crore minutes

“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. Jio has built an ecosystem for digital services and its affordable and simplified pricing strategy offers every Indian a chance to experience the “power of data”.

Watch this Zee Business video

Indicating that he has full faith in RJio's latest foray, Ambani said, "FTTH and Enterprise services with strong fibre backbone across the country would further establish Jio’s leadership as a digital services provider. The continued strength in financial results of Jio despite competitive intensity reinforces the customer uptake of its services and its strong operating leverage. Jio is committed to offering most value to all of its stakeholders.”