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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Jio Platforms has released its quarterly earnings report today. In the past few months, the telco has raised Rs 1,52,056 crores in capital through investments from various groups and companies. Reliance Jio aims to connect every Indian with internet and that is why it has partnered up with Google. Google bought a 7.73% equity stake in Reliance Jio for an amount of Rs 33,737 crore. Both the companies together will build an entry-level smartphone which will run on the Android operating system. Jio reported a net profit of Rs 2,520 crore in the first quarter of the FY 2020-21. Telco’s EBITDA margin stands at 44% compared to 37.8% in the corresponding quarter last year. Jio Platforms also added many customers to its subscriber base despite the problems created by COVID-19.
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Jio Added 9.9 Million Customers With Increased ARPU
The average revenue per user (ARPU) for Reliance Jio has risen to Rs 140 per month. This is one of the biggest factors which helped the telco to drive profits for itself. Jio added 9.9 million customers to its subscriber base despite all the problems COVID-19 created. With all the newly added customers, Jio now has a total customer base of 398.3 million users.
Jio is the top telco in India in regards to the number of customers they have. Gross addition of customers is in excess of 15 million subscribers for the quarter. With this, the telco reported increased data traffic of 30% YoY. As for the voice calling traffic, it rose by 13.2% YoY. Net profit reported by the company stands at Rs 2,520 crore which is up by 182.8% YoY. Average wireless data consumption per user has also increased to 12.1GB per month and average voice call consumption has been increased by 756 minutes.
