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Reliance Jio Q3 profit up 62.5% to Rs 1,350 crore; revenue rises 28.5%

The telecom arm of Reliance Industries posted standalone net profit of Rs 1,350 crore during the quarter under review, as opposed to Rs 831 crore during the year-ago period

twitter-logoBusinessToday.In | January 17, 2020 | Updated 20:17 IST
Reliance Jio Q3 profit up 62.5% to Rs 1,350 crore; revenue rises 28.5%
Reliance Jio added 3.7 crore subscribers in the December 2019 quarter.

Reliance Jio's standalone revenue from operations for the December quarter stood at Rs 13,986 crore, 28.5 per cent higher than Rs 10,885 crore reported during the corresponding period last year. The December quarter saw Reliance Jio subscriber base reaching 37 crore, up 32.1 per cent year-on-year, with net addition of 1.48 crore during Q3.

Reliance Jio in a statement said it's EBITDA (earnings before interest, taxes, depreciation, and amortisation) growth for Q3 grew 38 per cent YoY to Rs 5,601 crore. The company's ARPU (average revenue per user) stands at Rs 128.4 per month in the quarter. Total wireless data traffic during the quarter was recorded at 1,208 crore GB, which is up 39.9 per cent YoY. The company said the total voice traffic during the quarter stood at 82,640 crore minutes, growing at 30.3 per cent YoY.

Commenting on the Reliance Jio Q3 results, RIL Chairman and MD Mukesh Ambani said: "Jio has continued on its unprecedented growth journey receiving overwhelming customer response for best in class mobile connectivity services. We are delivering on our promise to be the driver of digital revolution in the country. To drive the next leg of growth, a truly transformational and disruptive digital services company has been set-up which will bring together India's No.1 connectivity platform, leading digital app ecosystem and world's best tech capabilities, for creating a truly Digital Society for each Indian."

Notably, during Q3, Reliance Jio had introduced IUC tariffs for the recovery of termination charges. So for recharges done by Jio customers from October 10, calls made to other mobile operators are charged at the prevailing IUC rate of 6 paise per minute through top-up vouchers. Despite increase in tariff, the company has witnessed robust growth in its user base as well as profit.

In view of SC judgment on adjusted gross revenue (AGR), the company during the quarter recognised estimated liability for the period 2010-11 to 2018-19 towards license fees or spectrum usage charges at Rs 177 crore. Reliance Jio had reported a 45.4 per cent increase in net profit for Q2 ended September 30, 2019. Its standalone net profit was Rs 990 crore as opposed to Rs 681 crore during the year-ago period.

Also read: Reliance Industries Q3 profit rises to Rs 11,640 crore; revenue down 1.4%

Edited by Manoj Sharma 

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