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Jio reports results for QE Sept 2019; net profit grows by 45 per cent year-on-year

October 19, 2019
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Reliance Jio has reported results for quarter ended September 2019. Standalone revenue from operations increased by 33.7 per cent from Rs 92.40 billion during quarter ended September 2018 to Rs 123.54 billion during the corresponding quarter in 2019. Standalone EBITDA grew by 44.6 per cent from Rs 35.73 billion to Rs 51.66 billion during the same period. Meanwhile, the net profit grew by 45.4 per cent from Rs 6.81 billion to Rs 9.90 billion.

The telcos’s subscriber base stood at 355.2 million as on September 30, 2019. Jio claims to have the lowest churn in the industry at 0.74 per cent per month.

ARPU during the quarter stood at Rs 120 per month. The total wireless data traffic during the quarter under consideration stood at of 12.02 billion GB and the total voice traffic stood at 812.62 billion minutes.

Post beta trials of its FTTH services, Jio had announced the rollout of home and enterprise services during its 42nd AGM on August 12, 2019. It has received interest across the 1,600+ cities where the services would be launched initially. The process of converting >0.5 million existing trial users to paid bundled plans is ongoing. The company expects FTTH and enterprise services to be key growth and margin tailwind over the medium term.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited 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. After tremendous success on mobile broadband connectivity business, Jio is now geared up to kick-start other growth engines – Home Broadband, Enterprise Services, Small & Medium Business connectivity, and Internet of Things (IoT). This along with digital platforms and solutions across Blockchain, Edge Compute, Artificial Intelligence, and Cloud infrastructure which have been developed by a strong talent pool within the Reliance Group would transform India into an AI-first economy across all sectors.”

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