telecom | IST

Reliance Jio corners profit of Rs 990 crore as revenues on target and margins beat estimates

Mukesh Ambani's telecom arm, Reliance Jio has posted a big bag of numbers for the second quarter. The revenue is on target and margins have beaten estimates. However, subscriber addition is slightly below expectations and average revenue per user continues to be moderate.

Mukesh Ambani's telecom arm, Reliance Jio has posted a big bag of numbers for the second quarter. The revenue is on target and margins have beaten estimates. However, subscriber addition is slightly below expectations and average revenue per user continues to be moderate.
The telecom giant has garnered a net profit of  Rs 990 crore versus a CNBC-TV18 poll of Rs 1,090 crore.
The revenue reading is at Rs 12,354 crore versus CNBC-TV18 poll of Rs 12,400 crore.
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ARPU or average revenue per user has met expectations bang on at Rs 120. In the first quarter, this stood at Rs 122.
The total subscriber base stands at 355.2 million which is an addition of 24 million from the first quarter.
The EBITDA margin stands at 41.8 percent versus CNBC-TV18 poll of 40.1 percent.
Commenting on the Jio numbers, Mukesh Ambani said, "Jio is now geared to kick-start other growth engines. We are still adding more than 1 crore new customers every month."
The press release says that Jio has witnessed more than 3x increase in voice and data traffic on its network, over the past two years.
When it comes to data, customer engagement continues to be positive with average data consumption per user per month of 11.7 GB versus 11.4 GB per user per month in the previous quarter and average voice consumption of 789 minutes per user per month.
Disclosure: Reliance Industries, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.