Reliance Jio Results: Q4FY19 profit stands at Rs 840 cr, rises by whopping 64.7%; subscriber base now 306.7 mn

Reliance Jio Results: Just like its parent Reliance Industries, the telecom arm Reliance Jio successfully reaped better earnings during March 2019 quarter (Q4FY19). RJio registered a net profit of Rs 840 crore, which was higher by a whopping 64.7% compared to Rs 510 crore in the same period of the previous year. However, Q4FY19 PAT growth was at single-digit at 1.1% from Rs 831 crore seen in Q3FY19. Meanwhile, operating revenue stood at Rs 11,106 crore up by massive 55.8% from Rs 7,128 crore in Q4FY18 and higher by 7% from Rs 10,383 crore in Q3FY19. Operating profit of RJio was at Rs 4,329 crore rising by 60.7% versus Rs 2,694 crore in Q4FY18 and also up by 6.8% from Rs 4,053 crore in Q3FY19. 

Operating margin was at 39% higher from 37.8% in Q4FY18, but remained unchanged compared to the preceding quarter. 

Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “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 at unmatched download speeds. Jio 4G LTE network would soon cover every district, taluk, gram panchayat and village of India with targeted population coverage of 99%. Our constant endeavour is to offer the gold standard digital experience to all our users across the country."

Subscriber growth has remained steady with net addition during the quarter of 26.6 million. As on March 2019, the subscriber base now stands at 306.7 million. Gross adds at 33.2 million inched up after modest disruption in previous quarter due to transition to the new KYC process. Monthly churn rate stayed much below industry average at 0.75% per month.

As per the financial audit report of RJio, the company's customer engagement was healthy with average data consumption per user per month of 10.9 GB and average voice consumption of 823 minutes per user per month. Video consumption drove most of the usage, increasing to over 500 crore hours per month.

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Also, JioPhone Monsoon Hungama offer (by Reliance Retail) with enriched app store has continued to drive first-time data users to Jio network.

Apart RJio's ARPU during the quarter of Rs 126.2 per subscriber per month.

Total wireless data traffic during the quarter of 956 crore GB. Meanwhile, total voice traffic during the quarter of 72,414 crore minutes.

Ambani said, "After successful execution of mobility business, Jio is now focused on catapulting India’s underserved Home & Enterprise connectivity market to global standards with its next-generation FTTX services. Jio mobility services along with Gigafiber fixed-broadband services and associated technology platforms have been designed to transform India with the power of Digital Revolution and reinvent Reliance as a Technology Platform Company.”