Reliance Jio gains over 215 million subscribers, earns a net profit of Rs 612 crores in Q1

“Reliance Jio added 28.7 million subscribers during the April-May quarter”

Ever since its commercial debut, Mukesh Ambani-led Reliance Jio has made ripples in India’s telecom market. The company finally turned profitable in Q3 FY2017-2018, and has been making solid net profits ever since. Now, it has reported a massive profit of Rs 612 crores in the first quarter of this year. In addition, the telco has announced that its total subscriber base now stands at 215.3 million.

Reliance Jio has revealed that it added a total of 28.7 million subscribers during the April-May quarter, as compared to 26.5 million in the previous quarter. This is the highest number of users the brand has gained in any quarter since its commercial launch. The company has crossed 200 million subscribers within just 21 months from the commencement of services.

Commenting on the results, Mukesh Ambani stated: “Jio continues on its path to drive digital revolution in India. We doubled our customer base and most user metrics in the last 12 months. 215 million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world. Jio has built an ecosystem for digital services and its affordable and simplified pricing strategy offers every Indian a chance to experience the “power of data”.

Reliance Jio has also revealed several interesting details in its latest report, which are summarised below:

• Subscriber base of 215.3 million as on June 30th 2018 
• Gross user addition of 30.5 million; net subscribers addition of 28.7 million; lowest industry churn rate of 0.30 percent per month
• Total wireless data traffic of 642 crore GB during the quarter 
• Total voice consumption of 44,871 crore minutes during the quarter 
• Average data consumption per subscriber of 10.6GB and average voice consumption of 744 minutes per month
• Total video consumption of 340 crore hours per month; average video consumption of 15.4 hours per subscriber per month
• ARPU (average revenue per user) during the Q1 was Rs 134.5 per subscriber per month
• Standalone net profit of Rs 612 crores

The latest report by Reliance Jio also mentions that the company continued to expand its 4G network to achieve 99 percent population coverage during this year. Now the company is all set to launch the JioPhone 2 feature phone and JioGigaFiber service starting next month

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