Reliance Industries Limited (RIL) is one of the biggest companies in the world. The company is invested in many sectors and is valued very highly in the market in terms with its profit-making capabilities. The last financial report release from RIL for the year ending March 31, 2020, is out now and Reliance is touching new heights like every time. The company registered a record quarterly EBITDA of providing digital services, Rs 6,542 crore. It is up by 42.9% year-on-year. There is also a record annual rise of revenue for digital services, up by 40.7%. The company has announced a dividend of Rs 6.50 per share for its shareholders. Furthermore, Reliance Jio has added 24 million new subscribers during the same January-March 2020 quarter. With this, the subscriber base of Reliance Jio has reached 388 million.
Reliance Jio: The Powerhouse of Digital Services
Reliance Jio has taken RIL to different heights. Reliance Jio has been the most significant profit-making telecom operator in India for the last few years now. Recently, it got an investment from Facebook of $5.7 billion against 9.99% stake in the company. This has spiked a lot of global interest amongst the investors to stack their money into the assets of Reliance Jio. It is one of the biggest technology FDI ever made in India. This is going to empower a lot of small businesses in India to create new products and have a better digital ecosystem to sell it at.
The Average Revenue per User (ARPU) of Jio dipped to Rs 130.6 per subscriber per month. The total wireless data traffic during the quarter was 1,284 crore GB which is an increase of 34.3% YoY.
Reliance Jio is Working With WhatsApp
The strategic partnership Reliance has entered into Facebook with is also going to bring WhatsApp to the table. Reliance Jio is now partnering up with WhatsApp and has formed a commercial agreement between themselves to accelerate the growth of Reliance on new retail commerce business. JioMart would soon be integrated with the WhatsApp and using it; the customers would easily be able to order groceries from their nearest Kirana stores. Jio is also helping people during the global pandemic by providing its users with world-class connectivity solutions.