When all major telecom operators in India are bleeding money to match up with the disruptive tariff set by Reliance Jio, the Mukesh Ambani-led Reliance Industries telecom venture has reported a profit for the first time, since official launch back in September 2016.
In the third quarter results Q3 (FY 2017-18), Reliance Jio reported a profit of Rs 504.38 crore. That’s for the quarter ending December 2017 against a loss of Rs 271 in the previous quarter. The telcos total income shoot up to Rs 6880.65 crore, that’s about 11.9 percent increase from the previous quarter.
“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 D. Ambani, Chairman and Managing Director, Reliance Industries Limited.
Other statistics from Reliance Jio Q3 (FY 2017-18)
- Reliance Jio reported a profit for the first time of around Rs 504 Crore.
- During the third quarter, the telco managed to add 27.8 million gross subscribers and 21.5 million net subscribers.
- Total subscriber base as on 31st December 2018 stands at Rs 160.1 million. Thus becoming the fourth largest telecom operator in India.
- Total wireless data traffic of up to 431 crore GB with average 9.6GB per subscriber per month.
- Voice traffic (VoLTE) counts to 31,113 crore minutes. Average voice consumption reached 694 minutes per user per month.
- 200 crore hours per month of video consumption by Jio subscribers with an average of 13.4 hours per subscriber.
- Jio remains the only network to deploy pan-India 4G across the 800MHz, 1800MHz and 2300MHz bands.
- Reliance Jio is also the world’s largest mobile data consumption network and also the first Exabyte network in the world.
- Topped TRAI’s MySpeed Analytics app data to be ranked the fastest network over last 11 months.
Reliance Joins growth was further accelerated through the launch of the ‘Zero’ price JioPhone. With per GB cost going all way down to Rs 4, its subscribers continue to demonstrate higher data and voice consumption. During the quarter only Jio introduced the “triple cashback offer“, which offers customer more value with every recharge in addition to normal benefits of the recharge pack.