Reliance Jio said its total customer base stood at 39.83 crore, as of June 30, 2020
Highlights
- Reliance Jio’s revenue from operations rose 33.71% to Rs 16,557 crore
- Average revenue per user rises to Rs 140.3 per month from Rs 130.6
- No significant impact on financial position, performance, says Jio
Billionaire Mukesh Ambani-led Reliance Industries’ telecom arm, Reliance Jio Infocomm, on Thursday said its standalone net profit was at Rs 2,520 crore in the quarter ended June 30. That marked a nearly three-fold jump compared to its net profit of Rs 891 crore in the corresponding period a year ago. Reliance Jio’s revenue from operations came in at Rs 16,557 crore in the April-June period, the telecom major said in a statement, up 33.71 per cent compared to the year-ago period.
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The company said its earnings before interest, taxes, depreciation and amortization (EBITDA) margin rose to 44.0 per cent in the first quarter of financial year 2020-21, from 37.8 per cent in the quarter ended June 30, 2019.
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Reliance Jio said it has evaluated the implications of the coronavirus pandemic, and has determined that there is no significant impact on its financial position and performance.
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Its average revenue per user (ARPU) – a key measure of profitability for a telecommunications company – rose to Rs 140.3 per month in the three months to June 30, from Rs 130.6 per month in the previous quarter.
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Reliance Jio’s total customer base grew to 39.83 crore as of June 30, 2020, from 38.75 crore at the end of the previous quarter.
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“Jio Platforms Limited with partnerships across promising Indian start-ups and globally renowned technology companies is set to drive the next leg of hyper growth for digital businesses,” said Mukesh Ambani, chairman and managing director, Reliance Industries.
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“Our growth strategy is aimed at meeting the needs of all the 1.3 billion Indians. We remain focused on playing a leading role India’s transformation into a Digital Society,” he added.
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Jio Platforms – which houses Reliance Jio Infocomm – raised Rs 1,52,056 crore through sale of stake to 13 investors during the quarter, including Facebook, Google, Intel Capital and Qualcomm.
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Out of the total investment, Jio Platforms has already received Rs 115,694 crore as subscription amount from 10 investors, Reliance Jio said.
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After the completion of these investments, Reliance Industries will hold a 66.48 per cent stake in Jio Platforms. “Thirteen investors, which include the largest technology companies and investors globally, now share a common vision with us,” Mr Ambani said.
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Reliance Industries reported a 31 per cent rise in net profit to Rs 13,233 crore in the June quarter, beating analysts’ estimates.