Reliance Industries` telecom arm Reliance Jio today reported a net profit of Rs 891 crore for June-quarter, showing an increase of 6.1 percent on a sequential basis. In a regulatory filing with BSE, the company's operating revenue for Q1FY19-20 stood at Rs 11,679crore. 

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On the Jio results, Mukesh D. 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. Jio management is focused on giving unmatched digital experience at most affordable price to every citizen of the country, and accordingly expanding the network capacity and coverage to keep pace with demand."

He added, "Jio has started connecting Enterprises with its next-gen connectivity solutions on the back of its extensive fiber network across the country. 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.” 

According to the company report, Key takeaways are given below: 

1. Customer Engagement/subscriber growth 

-Strong subscriber growth with net addition of 24.5 million during the quarter and 116 million during the previous twelve months.
- Gross adds at 33.8 million stayed healthy with deeper 4G network presence and simpler tariff structure continuing to attract first time mobile internet users to Jio digital services.
- Monthly churn rate continued to stay below industry average at 0.97% per month.
- Customer engagement was robust with average data consumption per user per month of 11.4 GB (10.9 GB per user per month in the previous quarter) and average voice consumption of 821 minutes per user per month. 

2. Best-in-class Network

-Post the transfer of RJIL fibre and tower undertaking to separate companies, through NCLT approved Composite Scheme of Arrangement, RJIL is now an anchor tenant on these assets, effective 1st April 2019.
- Jio continues to build capacity in line with increasing data traffic which crossed the 10 Exabyte mark during the quarter. Jio remains to be the only network to deploy tri-band (800MHz/ 1800MHz/ 2300MHz) 4G across all its network sites.
- World’s largest VoLTE network witnessed ~75% YoY growth in daily voice traffic and it is now bigger than some of the legacy 2G/3G voice networks in India.
- Ranked fastest network over last 28 months consecutively by TRAI’s MySpeed Analytics app (average download speed of 20.4 Mbps during May 2019, as per TRAI). 

3. Largest Distribution & Service Network
-Pan-India distribution channel with over 1 million retailers for customer acquisition and selling prepaid recharges
- Efficient sales channel with simplified tariff structure continues to deliver with monthly gross subscriber additions at more than ~11 million during the quarter
- MyJio continues to be the best-in-class full service (prepaid and post-paid payments, loyalty coupons, troubleshooting, addition or deletion of services) self-care application. 

4. Financial Performance
- Jio's quarterly operating revenue increased 44.0% YoY to Rs 11,679 crore.
- Robust operational efficiency is reflected in industry leading EBITDA margin of 40.1% which has driven EBITDA to Rs 4,686 crore during the quarter.
- The company has adopted Ind AS 116 ‘Leases’ effective 1st April 2019 and applied the Standard to its leases. This has resulted in recognizing a right-of-use asset and a corresponding lease liability of Rs 6,633 crore as at 1st April 2019. 

5. InvIT controlled Fibre & Tower SPVs
-Fiber and Tower undertakings were transferred to Jio Digital Fibre Private Limited (“JDFPL”) and Reliance Jio Infratel Private Limited (“RJIPL”) respectively, effective 31-Mar2019.
- JDFPL and RJIPL are operating as independent entities with transfer of control to the SEBI registered Infrastructure Investment Trusts.
- Agreement entered into with Brookfield Infrastructure Partners L.P. and its affiliates for an investment of Rs 25,215 crore into Tower InvIT. Transaction closure is subject to completion of due diligence, documentation and requisite statutory and regulatory approvals.