Mumbai: Reliance Jio today reported net profit of Rs 723 crore annually in its fourth quarter report. The venture has witnessed positive net income in the first year of commercial operations with net profit for the year at Rs 723 crore which is seen as robust financial performance in a competitive market enviornment. Jio has gained sustained growth in subscriber base to 186.6 million(as on March 31st 2018). Data consumption has stood at record 506 crore GB in the quarter. The growth is  data consumption quarter on quarter is 17.4%.
Total voice traffic during the quarter was 37,218 crore minutes. Jio has emerged as world’s fastest growing digital service platform.  ARPU stands during the quarter at Rs 137.1 per subscriber per month.

Jio’s standalone revenue from operations in 4th quarter remained Rs 7,128 crore (3.6%  QoQ growth). Standalone EBITDA was Rs 2,694 crore (2.5% QoQ growth) and EBITDA margin of 37.8%. Standalone Net Profit was Rs 510 crore.

Commenting on the results, Shri Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “A full-blown social, mobile and digital revolution is underway across the world, and I am glad that India is not being left behind in any way with the advent of Jio. Everyone at Jio is today proud to have played a pivotal role in transforming the digital landscape of this country and empowering millions of Indians with all the leading digital tools and skills. Jio is offering the “power of data” to each Indian to fulfil every dream and to collectively take India to Global Digital Leadership.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.”

 

Jio continued its subscriber growth trend with net addition during the quarter  of 26.5 million (as against 21.5 million in the previous quarter)Gross adds were at 27.9 million and churn of only 1.4 million implying the lowest industry churn rate at 0.25% per month 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 was at over 240 crore hours per month on the network.

The Company has commenced commercial operations of its Wireless Telecommunication Network with effect from 1st July 2017.

 

DeshGujarat