Reliance Jio is the happiest kid in the block. When all other telecom operators in India are posting huge dip in their top-line as well as bottom line, Jio is standing tall amongst giants, with registering its first-ever profit in the second quarter of its business.
In Q3 ended December 2017, the 4G operator posted net profit of Rs 504 crore ass against Rs 271 crore loss in the previous quarter. This is a big boost for Jio, India’s newest telecom operator with all 4G services.
In terms of revenue, the operator pocketed Rs 6879 crore in December quarter compared to Rs 6147 crore in the previous quarter registering a growth of 11.9%. Standalone EBITDA of the Mukesh Ambani-led firm stood at Rs 2628 crore, an 82.1% growth over previous quarter and EBITDA margin for December quarter stood at 38.2%.
“Jio’s strong financial result reflects the fundamental strength of the business, significant efficiencies and right strategic initiatives. Jio has demonstrated that it can sustain its strong financial performance,” said Mukesh Ambani, Chairman and MD of Reliance Industries.
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By the end of December 31, the company said, its customer base touched 160.1 million. Its a record. No other service provider has captured this number of customers in such short span. In the reported quarter itself the company added 27.8 million new customers. In the trailing quarter i.e October, net subscriber addition was 19.5 million.
If one deducts the customers who moved out of Jio in this quarter, the net addition stands at 21.5 million in December quarter as against 15.3 million in the previous quarter. The company says its customer churn is lowest in the industry – at 1.4%.
Jio’s quarterly results also shows that its ARPU for the period stood at Rs 154 and the total data consumed on it’s network is recorded at 431 crore GB.