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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
Reliance Industries Limited, the parent company of Reliance Jio today released its telecom arm’s financial results for the quarter that ended on September 30, 2018. During the quarter, Jio reported a standalone net profit of Rs 681 crore and the company posted a net loss of Rs 271 crore during the same period a year ago. On a quarterly basis, its profit grew around 11% from Rs 612 crore in the April-June period. The average revenue per user (ARPU), however, declined to Rs 131.7 as compared to Rs 134.5 in the previous quarter. But, its impact was mitigated by growth volume of new customers that on-boarded its network during the reported quarter and higher usage of services on its network.
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Jio’s Customer Base Reaches All-Time High to 252.3 Million
“Jio has accelerated its pace of subscriber additions further with net addition during the quarter of 37 million (as against 28.7 million in the previous quarter), highest in any quarter since the launch of commercial services,” the company said. The value of services sold by Jio grew 51.5% to Rs 10,901 crore in July-September 2018 period from Rs 7,197 crore in the same quarter a year ago.
“We, at Jio, are glad with our progress towards our mission with more than 250 million subscribers on our network within 25 months of commencement of services. We have enabled our customers to adopt the digital life, with record consumption of data and use of digital services,” RIL Chairman and Managing Director Mukesh Ambani said in a statement.
