Reliance Jio Infocomm, which is now the second-largest telecom operator in India, today posted its results of Q1 FY20. During the quarter that ended on June 30, 2019, Reliance Jio has added a whopping 24.5 million subscribers during the single quarter and its overall user base now stands at 331.3 million. This is the only quarter since Jio’s inception where the company added less than 25 million new subscribers. Even though the customer acquisition was strong, the Average Revenue per User (ARPU) for Jio reduced to Rs 122 from Rs 126.6 it reported a quarter ago. The company also posted a standalone revenue of Rs 11,679 crore from operations with a growth of 5.2% compared to last quarter. During the same quarter, Jio customers consumed a whopping 1090 crore GB of data with an average user consuming 11.4GB every month. Having said that, Jio did not reveal the inactive subscriber base like Bharti Airtel and Vodafone Idea. Jio also confirmed that the trials of Jio GigaFiber are in the final stages, so we can expect the public rollout in the next few weeks.
Reliance Jio Subscriber Base Reaches 331.3 Million
At the end of March 2019, Reliance Jio’ subscriber base was 306.8 million, and at the end of June 2019, the company’s user base stood at 331.3 million. Earlier today, Trai also released the subscription data for May 2019 which also revealed that Jio is now the second-largest telco in the country, beating Bharti Airtel. So Reliance Jio now has a considerable lead in terms of subscriber base when compared to that of Bharti Airtel. Vodafone Idea is actively losing subscribers every month, so if Jio’ strong customer addition continues, we might see it replacing Vodafone Idea in the next two or three quarters. Reliance Jio added 116 million new users over the last 12 months which is an incredible number to achieve for any telco across the globe.
As mentioned, Jio’s ARPU reduced to Rs 122 per subscriber during Q1 FY20 which analysts already predicted. Bharti Airtel might gain the upper hand in the ARPU section this time around. As for the user consumption goes, an average Jio customer consumed 11.4GB per month and the overall consumption during the quarter stood at 1090 crore GB. Notably, in the last quarter, Jio users consumed 10.9GB data per month.
Total voice traffic on Jio network during the quarter was 78,597 crore minutes with each user making 821 minutes of voice calling every month.
Reliance Jio Q1 Posts Standalone Net Profit of Rs 891 Crore During Q1 FY20
Alongside the user consumption data, Reliance Jio also revealed the financial numbers for the quarter that ended on June 30, 2019. Reliance Jio has posted a standalone net profit of Rs 891 crore and a standalone EBITDA of Rs 4,686 crore up by 8.2% compared to the previous quarter. Jio’ standalone revenue from operations was Rs 11,679 crore which also saw an increase of 5.2% QoQ.
Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said: “Growth in Jio mobility services has continued to surpass all expectations. In less than two years of commercial operations, Jio network carried almost 11 Exabytes of data traffic during the recently concluded fiscal quarter. Jio management is focused on giving unmatched digital experience at the most affordable price to every citizen of the country and accordingly expanding the network capacity and coverage to keep pace with demand.”
Reliance Jio has been testing its GigaFiber broadband services for over a year now and the company stated the trials are in the final stages now. So as rumoured, we can expect the Jio GigaFiber public rollout in the next few weeks.