Reliance Jio Posts Record Subscriber Growth, Higher Profits In Last Quarter

Jul. 28, 2018

Reliance Jiohas posted a net profit of Rs. 612 crore on revenues of Rs. 8,109 crore during Q1 FY18-19, the company announced Friday. The EBIDTA (Earnings before interest, tax, depreciation and amortization), meanwhile, came in at Rs 3,147 crore. Jio’s user-base now stands at 215.3 million after adding a record 28.7 million new subscribers during the quarter. The company also reported a churn rate of just 0.30 percent, which it claimed was the lowest in the market.

Spurred on bypocket-friendly prices, Jio users, on average, consumed 10.6GB of LTE data per month and made 744 minutes of voice calls, both of which are the highest in the industry. As one would expect, videos accounted for the largest chunk of data usage, with subscribers watching 15.4 hours of videos per month.

Jio also made some big claims about its network at its earnings call, saying it has both the largest LTE data network as well as the largest VoLTE network in the world in terms of usage. It also claimed it has 100 percent network availability in the country, and the lowest call drop rate at 0.13 percent. The company, however, did not reveal any sales data about theJioPhone 2, which waslaunched earlier this month.

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