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Jio reports operating profits in maiden quarterly financials

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BENGALURU: Reliance Jio Infocomm Limited (Jio), a wholly owned subsidiary of Reliance Industries Limited (RIL), reported positive EBIT for the quarter ended 30 September 2017 (Q2-17, current quarter) of Rs 2,595.7 million. This was the company’s maiden financial quarterly result. The company’s EBIDTA for the quarter was Rs 14,434.5 million on revenue from operations of Rs 61,470.6 million. Consolidated revenue from operations including service tax/GST was Rs 71,970.8 million. Other income was Rs 16.7 million.

Jio’s subscriber in the current quarter increased to 138.6 million, up 15.3 million from the previous quarter. The company says that ARPU for Q2-17 was Rs 156.4 per month. Jio claims total wireless data traffic for the quarter at 3,780 million gigabytes and average voice traffic during the quarter was 2,670 million minutes per day.

Commenting on the results, RIL chairman and managing director Mukesh D. Ambani, “The world is transforming, turning digital and India is not going to be left behind. India is ready to go digital, move from voice to data and Jio is creating the foundation of data for the next generation business. The rapid uptake of Jio services reflects the latent need of the society. We are confident that Jio will bring significant benefits to the Indian economy and the Indian customers and will take India to a much higher pedestal. We are focussed on providing multi-layered digital services on top of the basic connectivity service to optimally utilise our world class infrastructure. The strong financial results of Jio demonstrates the robust business model of Jio and the significant efficiencies that the company has built through its investment in the latest 4G technology and right business strategy. As always, the group has demonstrated excellence in execution, vision and commercial acumen.”

Let us look at the other numbers shared by the company

Total Expenditure for the current quarter was Rs 65,625.4 million. Networking operating expenses for the quarter were Rs 13,718.9 million. Net access charges expenses was Rs 21,398.8 million. The company paid Rs 3,990 million towards license fees/spectrum charges. Employee benefits expense was Rs 3,031 million. Finance costs were Rs 6,733.8 million. Selling and distribution expenses were Rs 2,608.4 million. Other expenses were Rs 2,305.7 million.

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