Reliance Jio saw a standalone profit of Rs 612 crore in the April-June quarter, which was a 20 per cent hike from Rs 510 crore in January-March quarter
Reliance Jio has acquired 28.7 million subscribers in the June 2018 quarter only, which is the highest-ever record since the launch of the telco giant in 2016. Currently, the Jio’s overall subscriber-base stands at 215.3 million, making it the fastest-growing telecom company in the world.
Data consumption has been 642 crores GB in June quarter
The overall data consumption for the telco giant has grown by 27 per cent from the previous quarter with 642 crore GB in the June quarter. For per user, data consumption per month stood at 10.6 GB in the specified quarter. Video consumption accounted for most growth, seeing a hike to 340 crore hours per month with average video consumption per subscriber standing at 15.4 hours per month, Reliance Industries said in a statement.
Reliance Jio’s average monthly voice consumption per user was 744 minutes mainly due to Jio Postpaid plan that includes international calling tariffs and roaming offers, which was well appreciated by consumers, the company disclosed.
“We doubled our customer base and most user metrics in the last 12 months. 215 million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world,” Mukesh Ambani, Chairman of Reliance Industries, said in the statement.
However, the statement also added, “Gross additions were at 30.5 million and the churn was only 1.8 million, implying the lowest industry churn rate at 0.30 per cent per month.”
Reliance Jio suffered a slight decline in average revenues
Even with the success, the telecom company experienced a tiny decline in its average revenues per users (ARPU) – the primary factor to decide the financial condition of the telco major.
According to the statement, ARPUs declined to Rs 134.50 from Rs 137 in the March quarter. Standalone profit for the company in the April to June period stood at Rs 612 crore – a surge of 20 per cent from Rs 510 crore in the last quarter of the previous fiscal year (January to March 2017).
Ambani added: “The continued strength in financial results of Jio despite competitive intensity reinforces the customer uptake of its services and its strong operating leverage. Jio has built an ecosystem for digital services and its affordable and simplified pricing strategy offers every Indian a chance to experience the ‘power of data’.”
This news comes after Reliance Industries launched the Jio GigaFiber – a fibre-to-the-home (FTTH) broadband connectivity service, at the company’s 41st Annual General Meeting (AGM) earlier in July, which is set to change the broadband scenario of the country. It is expected to offer up to 1 Gbps Internet speed across 1,100 Indian cities.