Reliance Jio Net Profit Soars 310% In FY2018-19

Reliance Jio Thursday announced its financial results for Q4 ended 31 March, 2019 and for the full fiscal year 2019. Jio reported a net profit of Rs 2964 crore for the full year showing a growth of whooping 310% over the previous financial year. In FY 2018, the company’s profit for the full year was Rs 723 crore.

Fo the full year of FY2019, the company’s total revenue was Rs38,838 crore as against Rs 20,154 crore in FY 2018 showing a growth of 92.7%. The company claimed its EBITDA margin for FY2019 at 38.9% is highest in the industry.

Reliance Jio also reported a net profit of Rs 840 crore for Q4, ended March 31, 2019 showing a Q-o-Q growth of 1.1%. In Q3 the company had posted profits of Rs 831 crore. However, on a year-on-year basis, the company’s net profit grew 64.7%. In Q4 for FY 2018, Jio’s net profit was 510 crore.

Operating revenue for Q4, 2019 was at Rs 11,106 crore and grew 7% over Q3 ended December 31, 2018. For Q3, the newest operator’s revenue was recorded at Rs 10,383 crore. On a yearly basis, Jio’s revenue, however, grew by 55.8% as the firm had made Rs 7128 crore in net sales in Q4, 2018.

During the Q4, Jio also achieved few rare milestones. The company became the fastest company to acquire 300 million customers. By end of Q4, Jio had a total of 306 million subscribers. It added 26.6 million new customers during the quarter though monthly churn rate was at 0.75%.

The company’s data traffic for the quarter has been recorded at 956 crore GB whereas total voice traffic for the same period was reported at 72,414 crore minutes. The operator reported that average data consumption per user per month was 10.9 GB and average voice consumption was 823 minutes per user per month. It also said that video consumption drove most of the usage, increasing to over 500 crore hours per month.

Jio’s ARPU for the quarter was Rs 126.2 per user per month.

“We at Jio are truly overwhelmed and proud to now serve over 300 million subscribers. Growth in data and voice traffic at this scale has been unparalleled.Jio’s network is one of the largest mobile data networks in the world carrying over 3 Exabytes ofdata every month at unmatched download speeds,” said Mukesh Ambani, Chairman and MD of Reliance industries.

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