Mukesh Ambani’s Jio posts profit for fourth quarter in row; customer base rises to 28 crore

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The robust performance is mainly on the back of a rise in customer base.
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Reliance Jio Q3 Results: Reliance Jio recorded a profit for the fourth time in a row in the country’s highly competitive telecom sector as billionaire Mukesh Ambani-backed telco clocked in a jump of 65 per cent in its net profit to Rs 831 crore during the December quarter as against Rs 681 crore in the corresponding period a year ago. The robust performance is mainly on the back of a rise in customer base.

While average revenue per user of Reliance Jio continued to decline, the impact seems to have mitigated with a sharp increase in customer base to 28 crore by the end of December, from 16 crore in the year-ago period.

Also read: RIL Q3 net profit beats estimate: Here’s what Mukesh Ambani has to say; key figures in nutshell

The operating revenue of Reliance Jio increased by 50.9 per cent to Rs 10,383 crore during the October-December 2018 period, compared with the Rs 6,879 crore it registered in the corresponding period a year ago.

Reliance Jio had posted its first profit in the last quarter of FY18. Jio has disrupted the telecom market by offering ultra-cheap data plans.

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, said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

JIO Q3 Results: All key figures in a nutshell

  • Standalone revenue from operations of Rs 10,383 crore (12.4 % QoQ growth)
  • 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 31 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

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