Reliance Jio Q1 Results: Reports Net Profit At Rs. 891 Crores

Mukesh Ambani-owned Reliance Jio has reported a 45.6 percent rise in its net profit. The company now has earned Rs. 891 crores in Q1 2019 rising from Rs. 612 crores in Q1 2018.

The operator posted a huge 49 percent increase (4.686 crores) in earnings before interest, tax, depreciation, and amortization (EBITDA). During the June quarter, the Average Revenue per user (ARPU) for Reliance Jio was at Rs. 122 per subscriber every month. However, this is lower than ARPU of Rs. 126.2 per subscriber per month seen in the March quarter.

In fact, in less than two years of operations, Jio network has carried out 11 Exabytes of data traffic in Q1 2019.

Shedding light on the company's performance during last quarter, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries shared, "In less than two years of commercial operations, Jio network carried almost 11 Exabytes of data traffic in Q12019."

Meanwhile, the telco added 33.8 million subscribers during the first quarter, Reliance Jio added in its statement. The company's total data traffic for the first quarter of FY20 stood at 1.06 million TB, while voice traffic reached 786 billion minutes for the quarter.

Besides, Jio has started beta trials of JioGigaFiber services and other smart home solutions. The company is targeting 50 million households to deploy its services.

"Beta trials of JioGigaFiber services have been very successful and the entire bouquet of smart home solutions would soon be rolled out to target 50 million households," Ambani said.

Jio Emerges As The Second Largest Mobile Operator

Rcently, the telecom regulator TRAI issued new data that confirms that Reliance Jio has dethroned Bharti Airtel as the second-largest telecom operator with 32.29 crores subscribers in May. Bharti Airtel has slipped to the third spot with 32.03 crores mobile subscribers during the same quarter.

While Vodafone Idea continues to be the largest operator with 38.75 crores users and 33.36 percent market share in the wireless segment as on May 31, 2019.