Reliance Jio, the largest mobile operator in India, clocked double-digit growth in subscribers, profit and revenue in its fiscal Q3 2019/20, widening its lead on rivals by market share.
Net profit in the three months to end-December 2019 jumped 62.5 per cent year-on-year to INR13.5 billion ($189.9 million), with operating revenue growing 28.3 per cent to INR140 billion.
Its mobile subscriber base rose 32.1 per cent to 370 million, giving Jio a 35 per cent market share (up from 26 per cent at end-December 2018), data from GSMA Intelligence showed. Rivals Vodafone Idea and Bharti Airtel ended the calendar year with shares of 28 per cent and 26 per cent, respectively.
Mukesh Ambani, chairman and MD of Reliance Industries (pictured), said its mobile unit is delivering on the promise to be the driver of digital revolution in the country: “To drive the next leg of growth, a truly transformational and disruptive digital services company has been set up which will bring together India’s number one connectivity platform, leading digital app ecosystem and world’s best tech capabilities, for creating a truly digital society for each Indian”.
ARPU dipped to INR128.40 from INR130 in fiscal Q3 2018/19. Average monthly data consumption rose 2.8 per cent to 11.1GB.
The company said it recognised an estimated liability of INR1.77 billion towards licence fees and spectrum usage charges relating to a Supreme Court’s ruling on adjusted gross revenue in October 2019.Subscribe to our daily newsletter Back