Mukesh Ambani has gotten ready for the 5G technology as his ambitious telecom business Jio Infocomm continues to post a profit for the second straight quarter since its launch two years ago.
Mukesh Ambani has gotten ready for the 5G technology as his ambitious telecom business Jio Infocomm continues to post a profit for the second straight quarter since its launch two years ago. Jio on Friday posted a profit of Rs 510 crore, up 1.2% on-quarter from Rs 504 crore in the October-December quarter.
The company has built a future-ready network which can easily deploy the 5G technology, after disrupting the 4G market by offering cheap data plans attracted subscribers. The company expects an expansion in its subscriber base on the back of JioPhones. “It (the company) has built a future-ready network which can easily deploy 5G and beyond technology in the last leg,” Reliance Jio said.
“Jio has created a strong data network with infrastructure and backhaul for offering wireless services, wireline services, FTTH, Enterprise offering, IOT services and other digital services. These will lead to further data consumption on the network,” the company added. Reliance Jio’s net subscriber stood at 186.6 million and the company is confident that the addition in the subscriber base will be accelerated by its newly-launched JioPhones.
Buoyed by Jio’s performance, RIL’s Chairman and Managing Director Mukesh Ambani said that the result reflects the robustness of the Jio business model. “The strong financial results of Jio in a competitive market environment demonstrates the robustness of the Jio business model and ability to offer the most value to our customers and partners. Jio has demonstrated that it can scale and sustain its strong financial performance,” Mukesh Ambani said.
Here are the key numbers from Jio’s Q4 results:
- Standalone revenue from operations of Rs 7,128 crore (3.6% Q-o-Q growth)
- Standalone EBITDA of Rs 2,694 crore (2.5% QoQ growth) and EBITDA margin of 37.8%
- Standalone net profit of Rs 510 crore
- Jio has continued its strong subscriber growth trend with net addition during the quarter of 26.5 million vs 21.5 million in the previous quarter.
- Jio subscribers continue to demonstrate high activity level with average data consumption per user per month of 9.7 GB and average voice consumption of 716 minutes per user per month.
- Video consumption is at over 240 crore hours per month on the network