Reliance Jio reports Rs.612 crore profit in Q1, up 19.9% QoQ

     Today Reliance Jio reported Rs. 8,109 crore revenue, up 13.8% QoQ and a net profit of 612 crore, up 19.9% QoQ for its fourthquarterly financial performance for the period that ended 30th June, 2018. Jio's rival Airtel earlier this week reported 97.3 crore net profit for the same quarter.

     Jio reported Standalone earnings before interest, tax, depreciation and amortisation (EBITDA) of 3,147 crore, up 16.8% QoQ, EBITDA margin of 38.8%, and standalone earnings before interest and tax (EBIT) of 1,708 crore, up 14.3 % QoQ. Consolidated value of services stood at 9,567 crore, up 13.8% over  training quarter.

     It crossed 215.3 million subscribers in the April to June quarter, and has added 28.7 million subscribers during the quarter, compared to 26.5 million in the previous quarter.

• Average revenue per user (ARPU) during the quarter - Rs.134.5 per subscriber per month compared to Rs.137.1 in the previous quarter.
• Total wireless data traffic - 642 crore GB.
• Average voice traffic - 44,871 crore minutes per day.
• Video consumptions per subscriber per month - 340 crore hours (15.4 hours per user per month).

     Jio announced its Jio Giga Fiber services for Homes and Enterprise at the 41st AGM (post IPO) of RIL earlier this month. These services are being offered across 1,100 cities with registration starting 15th August 2018 upon which homes would be connected based on the requests received from the neighbourhood. Jio said that thousands of homes have been connected during the ongoing beta trails, to ensure the best service post launch.

     During the quarter, RIL announced a strategic transaction for acquiring Radisys, a global leader in providing open telecom solutions to service providers and telecom equipmant vendors worldwide, for US$ 1.72 per share in cash. This acquisition would further accelerate Jio's global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption.