Reliance Jio’s net profit has grown by 177.5 per cent from Rs 8.4 billion during quarter ended (QE) March 2019 to Rs 23.31 billion during the corresponding quarter in 2020. The standalone revenue from operations, including access revenues grew from Rs 117.15 billion to Rs 148.35 billion during the period.
Meanwhile, the standalone earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 43.2 per cent on a year on year (YoY) basis from Rs 43.29 billion to Rs 62.01 billion during the period under consideration and the EBITDA margin grew from 37 per cent to 41.8 per cent.
Subscriber base as on March 31, 2020 stood at 387.5 million. Meanwhile, the average revenue per user (ARPU) stood at Rs 130.6 per subscriber per month.
The total wireless data traffic during the quarter stood at 12.84 billion GB, while the total voice traffic during the quarter stood at 876.34 billion minutes.
Meanwhile, Jio platforms is planning to launch a nationwide video platform called JioMeet soon.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, “We are glad that we have made connectivity and operations easier for our customers in these difficult times. Every Jio employee is trained to think Customer First and that has resulted in overwhelming customer response as we are serving close to 400 million Indians now. Jio continues to lead the digital revolution in India and the whole-hearted acceptance of our services motivates us to keep improving every day. Jio is embarking on the next leg of growth with a path-defining partnership with one of the world’s largest digital companies, Facebook. We are together determined to make India a truly digital society with best-in-class connectivity network complemented with disruptive digital technology platforms for entertainment, commerce, communication, finance, education and health harnessing world’s best tech capabilities. Our focus will be India’s 60 million micro, small and medium businesses, 120 million farmers, 30 million small merchants and millions of small and medium enterprises in the informal sector.”