The Mukesh Ambani led telecom operator, Reliance Jio has been growing in leaps and bounds ever since it stepped in the telecom sector of India. The telecom operator turned the industry almost upside down and brought a 4G revolution with its cheap data tariff plans in the country when it forayed in the sector back in 2016. Since then, the telecom operator has continued its golden streak and remains the only telecom operator in India currently registering profits, unlike others which are sinking under losses and bleeding along with the telecom industry. Now, Reliance Jio has come out with its Q4 reports for the FY19 and the telecom operator has added yet another feather to its cap as it has crossed the milestone figure of 300 million subscribers.
300 Million Subscribers, Highest Profitable Quarter and More Achievements
The first notable point in Reliance Jio’s quarterly report is the milestone subscriber acquisition figure of 300 million. It is also worth noting that the telco has become the first operator globally to amass 300 million subscribers this fast. The telco also revealed that it saw a strong financial performance for the FY19 with operating revenue standing at Rs 38,838 crore and an and industry-leading EBITDA margin of 38.9%. The financial report also highlighted that the operating revenue of the telco was the highest in the fourth quarter and stood at Rs 11,106 crore with the QoQ growth coming out to be 7% and YoY growth coming out to be 55.8%.
The EBIDTA margin for Reliance Jio remained constant for the third and fourth quarter of the financial year at 39%. The earnings before interest and taxes grew YoY by 72% for Reliance Jio, and the telco also registered a net profit of Rs 840 crore in the fourth quarter of FY19 as compared to the third quarter where the net profits were Rs 831 crore. For the same period last year, in FY18, the telco registered profits of Rs 510 crore.
Profits for Reliance Jio Grow by 310%
Reliance Industries Limited, Chairman and Managing Director, Mukesh Ambani said, “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 is 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 village of India with targeted population coverage of 99%. Our constant endeavour is to offer gold standard digital experience to all our users across the country.”
The net profit for the entire year for Reliance Jio came out to be Rs 2,964 which was higher than the Rs 723 crore profit which the telco registered in FY18. In percentage terms, the telco saw an increase of 310% in net profits as compared to the last financial year. In retail, Reliance Jio crossed Rs 100,000 crore revenue and also passed the 10,000+ stores milestone. It is also worth noting that in the previous quarters, Reliance Jio completed the demerger of fibre and tower assets and completed the acquisition of Hathway Cable and Datacom and Den Networks Limited. Reliance Jio also reported that as of March 31, 2019, it had the most extensive wireless data subscriber base of 306.7 million. Reliance Jio also has the likely highest ARPU in the industry at Rs 126 per month in the fourth quarter of FY19.