Reliance Jio reports loss of Rs 270.59 crore in July- Sept

Mukesh Ambani owned Reliance Jio has reported a net loss of Rs 270.59 crore for the quarter ended September.

The telco has posted revenue of Rs 6,147 crore and EBITDA of Rs 1,443 crore and EBITDA margin of 23.5 percent during the quarter.

Commenting on the results, Mukesh D. Ambani, Chairman, and Managing Director, Reliance Industries Limited said: "The world is transforming, turning digital and India is not going to be left behind. India is ready to go digital, move from voice to data and Jio is creating the foundation of data for the next generation business. The rapid uptake of Jio services reflects the latent need of the society."

"We are confident that Jio will bring significant benefits to the Indian economy and the Indian customers and will take India to a much higher pedestal.We are focussed on providing multi-layered digital services on top of the basic connectivity service to optimally utilize our world-class infrastructure.

The strong financial results of Jio demonstrates the robust business model of Jio and the significant efficiencies that the company has built through its investment in the latest 4G technology and right business strategy. As always, the group has demonstrated excellence in execution, vision and commercial acumen," he said.

Jio said that there are 138.6 million subscribers on the network as of 30th September 2017 and 15.3 million net subscriber addition during the quarter.

According to the company, Jio users consumed 178 crore hours of high-speed video per month making Jio the world's largest mobile video network also. Before Jio's launch, India was ranked 155th in the world in terms of mobile broadband penetration as per rankings are done by the International Telecommunication Union. India is now the top-ranked country in mobile data consumption.

Jio users made 267 crore minutes of VoLTE calls per day during the quarter. This quantum of traffic has been achieved by Jio in less than 12 months since commencement of operations.

This has been achieved by enabling users to make unlimited voice calls from anywhere to anywhere in India at absolutely free tariff and by abolishing roaming practice within India - first such move by an Indian telecom operator.

In terms of quality also, Jio achieved industry best call drop rates on the consistent basis, the company claims.