Home / Business / Reliance Jio Q4 net up 65% as customer base swells to 30.7 crore

Reliance Jio Q4 net up 65% as customer base swells to 30.7 crore

NEW DELHI: Reliance Jio on Thursday reported a 65% jump in net profit for the quarter ended March 31 at Rs 840 crore against Rs 510 crore in the same period a year ago.

The company, which began services in September 2016, said that its subscriber base at the end of quarter stood at 30.67 crore and it registered an average revenue per user (ARPU) of Rs 126.2.

Operating revenue of Reliance Jio rose 56% to Rs 11,106 crore during the reported quarter, compared to Rs 7,128 crore in the corresponding period of 2017-18.

For the fiscal ended March 31, 2019, Reliance Jio posted an over 4-fold jump in net profit to Rs 2,964 crore compared to Rs 723 crore in the previous fiscal. Revenue in 2018-19 fiscal jumped 93% to Rs 38,838 crore as against Rs 20,154 crore in 2017-18.

“We at Jio are truly overwhelmed and proud to now serve over 300 million subscribers. Growth in data and voice traffic at this scale has been unparalleled. Jio’s network is one of the largest mobile data networks in the world carrying over 3 Exabytes of data every month,” Reliance Industries chairman and managing director Mukesh D Amnbani said.

The net subscriber addition of Jio during the reported quarter stood at 2.66 crore, while gross addition was 3.32 crore, according to a company statement.

Jio claimed average data consumption per user per month stood at 10.9 GB and average voice consumption was 823 minutes.

Video consumption reached over 500 crore hours per month, Jio said.

The company said that it has rolled out fixed line broadband connection ‘JioGigaFiber services’ across 1,600 cities.

“Post completion of the acquisitions of Den Networks Limited and Hathway Cable and Datacom Limited (now majority owned by RIL Group after the open offer process completed in last quarter of 2018-19), the go-to-market strategy is being optimised with successful test results from beta trials across the country,” the company said.

Reliance Jio said that transfer of fibre and tower assets to separate companies – Digital Fibre Infrastructure Trust and Power Infrastructure Trust -has resulted in reduction of liabilities worth Rs 1,07,000 crore during the quarter.

News credit : Indiatimes