Reliance Jio has posted a 62.5 percent year on year increase in net profit for the last quarter that ended on December 31, 2019. The company has posted a net profit of Rs 1,350 crore. In terms of subscribers, India’s largest and only profitable telecom operator noted it had 370 million subscribers at the end of the quarter, which means it added 14.8 million subscribers since the end of the last quarter on September 30. It also reported average revenue per user (ARPU) and the total voice and data traffic.
RIL noted that 135.7 million subscribers were the gross additions for the entire previous year. Overall, Reliance Jio saw a 32.1 percent growth year-over-year (YoY) in subscribers in the quarter. In terms of average revenue per user (ARPU), Jio reported a revenue of Rs. 128.4 per subscriber per month in the past quarter, which is up from Rs. 120 in the previous quarter.
Reliance Jio noted wireless data traffic in the period was 12.08 billion gigabytes (GB), up from 12.02 billion GB in the previous quarter. It reported a 39.9 percent growth YoY, based on an average data consumption per user per month of 11.1GB, down from 11.7GB in the previous quarter. Furthermore, Jio says it saw a total voice traffic of 826.4 billion minutes, which is up from 812.62 billion from the previous quarter. That equals to a 30.3 percent growth YoY, and based on an average usage of 760 minutes per user per month.
The telco also reported elimination of 22 million subscribers during the quarter. According to the company the loss was “primarily excessively heavy voice users, owing to implementation of IUC tariffs due to regulatory uncertainty."
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited 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. Jio is also determined to redefine the wireline infrastructure, home entertainment and enterprise market in India with its FTTx services which bundle best-in-class connectivity with bouquet of digital content and services.
Further, he added, “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."
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