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Jio turns profitable; posts a standalone net profit of Rs 5.04 billion during Oct-Dec 2017

January 23, 2018

Reliance Jio Infocomm Limited (RJIL) has posted its first quarterly profit since its service launch. RJIL, on a standalone basis, has posted a net profit of Rs 5.04 billion in the quarter ended December 2017, as compared to a loss of Rs 2.71 billion in the quarter under September 2017.

The standalone revenue from operations stood at Rs 68.79 billion, a growth of 11.9 per cent over trailing quarter. Meanwhile, the standalone EBITDA (earnings before interest, tax, depreciation and ammortisation) stood at Rs 26.28 billion, a growth of 82.1 per cent when compared to Rs 14.43 billion during quarter ended September 2017. The EBITDA margin stood at 38.2 per cent, as against 23.5 per cent in the trailing quarter.

On the operations side, RJIL had a subscriber base of 160.1 million on December 31, 2017. The net subscriber additions during the quarter under consideration stood at 21.5 million. Monthly ARPUs stood at Rs 154. Meanwhile, the company recorded total wireless data traffic of 4.31 billion GB and a total voice traffic of 311.13 billion minutes.  Video consumption has crossed 2 billion hours per month on the network.

Meanwhile, as per the company statement, consolidated value of services during quarter-ended December 2017 stood at Rs 81.36 billion, 12.8 per cent up as compared to trailing quarter and consolidated earnings before interest and tax stood at Rs 14.41 billion (452.1 per cent growth over trailing quarter).

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “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.”

During the quarter, Jio signed definitive agreement for the acquisition of specified assets of Reliance Communications RCOM and its affiliates. Consequent to the agreement, Jio or its nominees will acquire assets under four categories – towers, optic fibre cable network, spectrum and media convergence nodes from RCOM and its affiliates. These assets are strategic in nature and are expected to contribute significantly to the large scale rollout of wireless and fibre-to-the-home and enterprise services by RJIL. The acquisition is subject to receipt of requisite approvals from Governmental and regulatory authorities, consents from all lenders, release of all encumbrances on the said assets and other conditions precedent.

 
 

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