Reliance Jio, the largest mobile operator in India by subscribers, booked another quarter of strong financial gains in its fiscal Q2, with brisk customer growth fuelling sharp increases in profit and revenue.
Net profit jumped 45.4 per cent year-on-year to INR9.9 billion ($139.7 million) in the three months to 30 September, while operating revenue increased 33.7 per cent to INR124 billion.
The operator added 103 million subs in the year to end-September, for a total of 355 million. Its market share jumped from just below 22 per cent in calendar Q3 2018, to 33 per cent, data from GSMA Intelligence showed.
Mukesh Ambani, chairman and MD of Reliance Industries (pictured), said: “We are still adding more than 10 million new customers every month. Jio is not only India’s largest telecoms enterprise in terms of subscribers and revenues, but has also become the digital gateway of India.”
He said after success in the mobile broadband connectivity business, Jio is now geared up to kick-start other growth engines including home broadband; enterprise services; small- and medium-sized business connectivity; and IoT.
ARPU fell 8.9 per cent to INR120. Monthly data usage stabilised, rising 6.3 per cent to 11.7GB.
Jio said voice and data traffic increased more than threefold over the past two years, noting that its network rollout is complete with nearly 99 per cent population coverage.Subscribe to our daily newsletter Back