Reliance Jio's quarterly revenues jump 44%, adds 24 mln customers

Nieuws Mobiel India 22 JUL 2019
Reliance Jio's quarterly revenues jump 44%, adds 24 mln customers

India's fastest growing mobile operator Reliance Jio reported operating revenues of INR 116.79 billion for its fiscal first quarter ended 30 June, which represents an increase of 5.2 percent quarter-on-quarter and 44 percent year-on-year. EBIT jumped 79.6 percent year-on-year to INR 30.80 billion, and the operator generated an EBITDA of 46.86 billion, up 8.2 percent quarter-on-quarter. EBITDA margin stood at 40.1 percent, up from 39 percent in the quarter ended March 2019, while standalone net profit amounted to INR 8.91 billion, down from INR 8.4 billion in the previous quarter. 

Jio added another 24.5 million subscribers in the quarter for a total 331.3 million. The company claimed the industry's lowest churn, at 0.97 percent per month. ARPU reached INR 122 in the June quarter, down from INR 126.2 in the three months to 31 March 2019. 

Total wireless data traffic during the quarter amounted to 10.9 billion GB, while total voice traffic during the quarter reached 785.97 billion minutes. Jio also reports that its VoLTE network saw a 75 percent year-on-year growth in daily voice traffic.

In separate news, Jio’s parent company Reliance has announced it signed an agreement with Brookfield for investment of INR 252.15 billion in Reliance’s Tower Infrastructure Trust. Brookfield's investment in the towers infrastructure used by mobile operator Reliance Jio remains subject to the receipt of government and regulatory approvals.

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India

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