Jio Q4 results 2019: Profit jumps 64.7% to Rs 840 crore

The operating revenue of Reliance Jio rose 55.8 percent to Rs 11,106 crore during the same period.

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Mukesh Ambani- owned Reliance Jio has reported a 64.7 percent increase in its net profit to Rs 840 crore for the quarter ended March 31, 2019. The company had posted a net profit of Rs.510 crore in the same quarter a year ago.

 Jio Q4 results 2019: Profit jumps 64.7% to Rs 840 crore

 

The operating revenue of Reliance Jio rose 55.8 percent to Rs 11,106 crore during the same period.

Reliance Jio had recorded quarterly revenue of Rs 7,128 crore in the same quarter a year earlier.

"We at Jio are truly overwhelmed and proud to now serve over 300 million subscribers. Growth in data and voice traffic at this scale has been unparalleled. Jio's network is one of the largest mobile data networks in the world carrying over 3 Exabytes of data every month at unmatched download speeds. Jio 4G LTE network would soon cover every district, taluk, gram panchayat, and the village of India with targeted population coverage of 99 percent. Our constant endeavor is to offer the gold standard digital experience to all our users across the country," Mukesh Ambani said while announcing the Q4 results.

"After successful execution of mobility business, Jio is now focused on catapulting India's underserved Home & Enterprise connectivity market to global standards with its next-generation FTTx services. Jio mobility services along with Gigafiber fixed-broadband services and associated technology platforms have been designed to transform India with the power of Digital Revolution and reinvent Reliance as a Technology Platform Company," Mukesh Ambani said.

Meanwhile, the gross additions in the reporting quarter were at 33.2 million inched up after modest disruption in the previous quarter due to transition to the new KYC process and monthly churn rate stayed much below industry average

at 0.75 percent per month.

Besides, customer engagement was healthy with average data consumption per user per month of 10.9 GB and average voice consumption of 823 minutes per user per month. The video consumption drove most of the usage, increasing to over 500 crore hours per month.

 

In addition, jio said that JioGigaFiber services for Home broadband, Entertainment, Smart Home Solutions, Wireline and Enterprise being rolled out across 1,600 cities.

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