Reliance Jio, the telecom arm of RIL, posted a profit of Rs 840 crore for the December quarter.
Reliance Jio posted a profit of Rs 840 crore as against Rs 831 crore for the December quarter. The Mukes Ambani-backed telco reported its sixth straight profitable quarter. CNBC-TV18 poll had predicted a profit of Rs 990 crore in the quarter ending March.
The firm, which entered the market in September 2016, with lower priced mobile internet services, recorded a net revenue of Rs 11,106 as against 10, 383 crore in the last quarter. Earnings before interest, taxes, depreciation and amortisation rose 6.8 per cent to Rs 4,329 crore.
Key figures in nutshell
- Standalone revenue from operations stand at Rs 11,106 crore (7.0 per cent QoQ growth)
- Standalone EBITDA is at Rs 4,329 crore (6.8 per cent QoQ growth) and EBITDA margin of 39.0 per cent
- Standalone Net Profit is recorded at Rs 840 crore
- Subscriber base as on 31 March 2019 is at 306.7 million
- Lowest churn in the telecom industry at 0.75 per cent per month
- ARPU during the quarter of Rs 126.2 per subscriber per month
- Total wireless data traffic during the quarter is at 956 crore GB
- Total voice traffic during the quarter is of 72,414 crore minutes
The growth in data and voice traffic at the scale as this has been unparalleled, Mukesh Ambani, Chairman and Managing Director at Reliance Industries, said in a statement.
“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%”, he added.
Meanwhile, Reliance Industries on became the first private sector company to post a quarterly profit of over Rs 10,000 crore for the second time in a row. The oil-to-telecom conglomerate owned by Mukesh Ambani posted a consolidated net profit of Rs 10, 362 crore in the quarter ended March, 2019, the company said in a statement.