Reliance Jio Q2 Result: Profit Jumps 45.5% To Rs. 990 Crore

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Reliance Jio has posted a 45.5 percent jump in its net profit to Rs. 990 crore in Q2 of 2019-20, on the back of new subscribers. Jio has posted Rs. 681 crore net profit in the same quarter a year ago. Jio's operating revenue increased by 33.7 percent to Rs. 12,354 crore from Rs. 9,240 crore in the corresponding quarter of 2018-19.

Reliance Jio Q2 Result: Profit Jumps 45.5% To Rs. 990 Crore

 

"Jio crossed the 350 million subscriber mark to remain the world's fastest-growing digital services company, and we are still adding more than 10 million new customers every month. Jio is not only India's largest telecom enterprise in terms of subscribers and revenues but has also become the Digital Gateway of India," Reliance Industries Chairman and Managing Director Mukesh D Ambani said.

Furthermore, the company posted the average revenue per user of Rs 120- a dip of Rs 2 compared to the previous quarter. The total wireless data traffic during the quarter stood at 1,202 crore GB (55.9 percent YoY growth), whereas the total voice traffic during the quarter was 81,262 crore minutes, showing a 52.2 percent YoY growth.

Reliance Jio Subscriber During Q2 2019-20

Reliance Jio also highlighted that subscriber growth with a net addition of 24 million during the quarter and 103 million during the previous twelve months. The monthly churn rate reduced sequentially and continued below industry average at 0.74 percent. Jio said customer engagement continues to be positive with average data consumption per user per month of 11.7 GB (11.4 GB per user per month in the previous quarter) and average voice consumption of 789 minutes per user per month.

Furthermore, the company pointed out that it has witnessed more than a 3x increase, in voice and data traffic on its network over the past two years.

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