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Reliance Jio net profit rises 45% to Rs 990 crore in Q2 FY20; subscriber base crosses 350 million

Reliance Jio's standalone revenue from operations for the September quarter stood at Rs 12,354 crore, 33.7 per cent higher than Rs 9,240 crore reported during the corresponding period last year

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Reliance Jio net profit rises 45% to Rs 990 crore in Q2 FY20; subscriber base crosses 350 million

Reliance Jio reported a 45.4 per cent increase in net profit for the quarter ended September 30, 2019. The telecom arm of Reliance Industries posted standalone net profit of Rs 990 crore during the quarter under review, as opposed to Rs 681 crore during the year-ago period.

Reliance Jio's standalone revenue from operations for the September quarter stood at Rs 12,354 crore, 33.7 per cent higher than Rs 9,240 crore reported during the corresponding period last year.

The company's EBITDA for September quarter stood at Rs 5,166 crore, up 44.6 per cent from Rs 3,573 crore reported in the second quarter last year. EBITDA margin also improved for the quarter at 41.8 per cent, 315bps higher on an annual basis. The company claimed in a statement that it is on the way to achieve 50 per cent EBITDA margin.

The September quarter saw Reliance Jio subscriber base reaching 355.2 million, up 40.8 per cent year-on-year. The company registered net subscriber addition of 103 million during the past twelve months; as well as net subscriber addition of 24 million for the quarter. Data traffic for the quarter increased 55.9 per cent annually to 1,202 crore GB, whereas voice traffic increased 52.2 per cent year-on-year to 81,262 crore minutes

However, Jio's average revenue per user (ARPU) during the September quarter stood at Rs 120 per user per month, as opposed to Rs 122 per user per month for the same period last fiscal.

"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," said Reliance Industries Chairman Mukesh Ambani.

ALSO READ:Reliance Industries Q2 result: Profit rises 18% to Rs 11,262 crore, revenue up 5%

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