Reliance Jio today reported Rs. 7,128 crore revenue, up 3.6 % QoQ and a net profit of 510.44 crore, up 1.2% QoQ for its third quarterly financial performance for the period that ended 31st March, 2018. Jio’s rival Airtel earlier this week reported 652.30 crore crore net loss for the same quarter.
Jio reported Standalone earnings before interest, tax, depreciation and amortisation (EBITDA) of 2,694 crore, up 2.5% QoQ, EBITDA margin of 37.8%, and Standalone earnings before interest and tax (EBIT) of 1,495 crore, up 4.1% QoQ . Consolidated value of services stood at 8,404 crore, up 3.6% over trailing quarter.
It crossed 186.6 million subscribers in the January to March quarter, and has added 26.5 million subscribers during the quarter, compared to 21.5 million in the previous quarter.
- Average revenue per user (ARPU) during the quarter – 137.1 per subscriber per month compared to 154 in the previous quarter
- Total wireless data traffic – 506 crore GB (9.6 GB per subscriber per month)
- Average voice traffic – 37,218 crore minutes per day (716 minutes per user per month)
- Video consumption per subscriber per month – 240 crore hours (13.8 hours per user per month)
During the quarter, RIL announced a strategic transaction for combination of JioMusic with Saavn, a leading global music OTT platform, to form India’s largest platform for music, media and artists, wherein the combined entity was valued at over US$1 billion, with JioMusic’s implied valuation at US$ 670 million.
RIL also announced an agreement to acquire 72.7% shareholding in Indiavidual Learning Pvt Ltd (“Embibe”), a leading AIbased
education platform leveraging data analytics to deliver personalized learning outcomes to each student.
Commenting on the results, 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.