Reliance Jio Q3FY19 Results: 'Surpasses all expectations' - Rs 831 cr profit and 280.1 mn subscribers

Reliance Jio Q3 Results: Once again Mukesh Ambani-led RIL's telecom arm Reliance Jio (RJio) did not fail to reap benefit for its chief. RJio has posted its December 2018 (Q3FY19) quarter result along with its parent Reliance Industries. RJio's net profit stood at Rs 831 crore in Q3FY19, which was surprisingly higher by a massive 65% compared to net profit of Rs 504 crore in Q3FY18. Also, the net profit was up by 22.1% as against Rs 681 crore in Q2FY19. On the other hand, RJio is already touching some milestone, as its operating revenue stood at Rs 10,383 crore, rising by a whopping 50.9% from Rs 6,879 crore in Q3FY18 and up by 12.4% from Rs 9.240 crore in Q2FY19. 

Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “The journey of Jio has been truly remarkable and has surpassed all expectations. The Jio family is now 280 million strong and growing on one of the world’s largest mobile data networks, in line with our vision of connecting everyone and everything, everywhere – always at the highest quality and the most affordable price. We are similarly working on re-inventing the connectivity solutions market for Homes and Enterprise with our next generation FTTX services."

Ambani added, "Our relentless focus is on creating platforms to truly transform the digital life of every citizen of India across connectivity, commerce, media and entertainment, financial services, agriculture, education and healthcare, which will further enhance productivity and economic prospects of our nation.”

Key highlights of RJio's Q3FY19 are:

• Standalone EBITDA of Rs 4,053 crore (13.4% % QoQ growth) and EBITDA margin of 39.0%
• Standalone Net Profit of Rs 831 crore
• Subscriber base as on 31st Dec-18 of 280.1 million
• Lowest churn in the industry at 0.61% per month
•  ARPU during the quarter of Rs 130.0 per subscriber per month
• Total wireless data traffic during the quarter of 864 crore GB
• Total voice traffic during the quarter of 63,406 crore minutes