Reliance Jio Q2 net profit rises 45.4% yoy, adds 24 million subscribers

Reliance Jio (RJIL) today released its quarterly result for the second quarter of 2019-29. The company, which disrupted the telecommunication market with its cheap services years a few years ago, reported a net profit of Rs 990 crore against Rs 681 crore in the same quarter last year.

Reliance Jio posted a year-on-year (YoY) increase of 45.4 percent in net profit. Image source: Reuters

Reliance Jio (RJIL) today released its quarterly result for the second quarter of 2019-29. The company, which disrupted the telecommunication market with its cheap services years a few years ago, reported a net profit of Rs 990 crore against Rs 681 crore in the same quarter last year. This is a year-on-year (YoY) increase of 45.4 percent in net profit. The company has posted an increase of 11.1 percent in net profit on quarter-on-quarter (QoQ) basis.

Average revenue per user (ARPU) during the quarter was at Rs 120 per subscriber per month. Total wireless data traffic during the quarter was at 1,202 crore GB (55.9% YoY growth). Total voice traffic during the quarter was at 81,262 crore minutes (52.2% YoY growth), the company statement said. Subscriber base also increase as of September 30, 2019, to 355.2 million, which is a 40.8 percent YoY increase.

The company also witnessed a strong subscriber growth with net addition of 24 million during the quarter and 103 million during the previous twelve months. The customer engagement remained positive with average data consumption per user per month of 11.7 GB, against 11.4 GB per user per month in the previous quarter, and
average voice consumption of 789 minutes per user per month.

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Jio has also witnessed more than 3x increase in voice and data traffic on its network over the past two years.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, “Jio crossed the 350 million subscriber mark to remain the world's fastest growing digital services company, and we are still adding more than 10 million new customers every month. Jio is not only India’s largest telecom enterprise in terms of subscribers and revenues but has also become the Digital Gateway of India."
Jio is now geared into Home Broadband, Enterprise Services, Small & Medium, Business connectivity, and Internet of Things (IoT), along with digital platforms and solutions across Blockchain, Edge Compute, Artificial Intelligence, and Cloud infrastructure, Ambani said.

Reliance Jio result highlights:

Standalone revenue from operations of Rs 12,354 crore
Standalone EBITDA of Rs 5,166 crore and EBITDA margin of 41.8 percent
Standalone Net Profit of Rs 990 crore
Subscriber base as on 30th September 2019 of 355.2 million (40.8% YoY growth)
Lowest churn in the industry at 0.74 percent per month
ARPU during the quarter was at Rs 120 per subscriber per month
Total wireless data traffic during the quarter was at 1,202 crore GB (55.9% YoY growth)
Total voice traffic during the quarter was at 81,262 crore minutes (52.2% YoY growth)

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