Reliance Jio has reported revenue of Rs 7,213 cr and an operating profit of Rs 261 cr for the second quarter of the financial year.
Per capita data consumption was 9.62 GB per user per month.
Average voice consumption was 626 minutes per month during the period, it added.
This is the first quarter of substantial revenue for the telecom operations of Reliance Industries.
Last quarter, digital services — which is what Jio is termed as on the company’s books — were shown as generating a revenue of just 145 cr rupees, and an operating loss of Rs 22 cr.
Digital services also includes the app business of the company.
Total assets under the digital services unit has increased to 2.28 lakh cr, up from 2.22 lakh cr three months earlier and 1.48 lakh cr in the year-ago period.
The company gave an ARPU (average revenue) of Rs 156.4 per subscriber per month, which is similar to what rivals like Bharti Airtel and Idea Cellular post.
Mukesh Ambani, chairman of the company, highlighted the fact that the digital business had reported a profit during the quarter.
“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.
“Reliance Jio.. had a positive EBIT contribution in its first quarter of commercial operations,” he added.
He also said the company is on track to have the highest penetration of any technology by next month. It expects to reach 95% population coverage, greater than 2G coverage of any other operator.
The results also reflect strong underlying fundamentals of our refining and petrochemicals businesses. Sustained demand growth coupled with supply disruptions further tightened demand-supply balances globally during the quarter. The benefits of optimizing our business through new projects are beginning to emerge. The structural strength in energy and materials business environment augurs well for our new capacities which are coming on-line this year.
Our retail business has delivered broad based, sustainable and profitable growth through improved operational excellence.
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 utilise 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.”
Total revenue for Reliance Industries as whole came in at Rs 97,402 cr, up from 92,661 cr three months earlier.
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