iWorld

Reliance Jio adds 27.9 mn subs in Q3; GigaFiber marks entry in 1400 cities

Reliance Jio adds 27.9 mn subs in Q3; GigaFiber marks entry in 1400 cities

GigaFiber

BENGALURU: Mukesh Dhirubhai Ambani’s juggernaut Reliance Industries Ltd (RIL) reported 50.7 percent growth in gross revenue for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the corresponding year ago quarter. The company’s operating result was 25.4 percent higher during the quarter under review as compared to the year ago quarter. Organised retail under Reliance Retail Ltd and Digital Services segment under Jio have been adding a larger and larger share to the company’s topline and operating results over time. 

Q3-2019 was no different. Revenue for RIL’s Reliance Retail almost doubled (grew 89.3 percent) y-o-y in Q3 2019 to Rs 35,577 crore (16.7 percent of gross revenue) as compared to Rs 18,798 crore (13.3 percent of gross revenue) in Q3 2018. The segment’s operating result grew 210.5 percent y-o-y to Rs 1,512 crore (0.71 percent of gross revenue) during the period under review from Rs 487 crore (0.34 percent of gross revenue). The segment’s contribution to operating results grew to 8.7 percent in Q3 2019 from 3.5 percent in Q3 2018.

RIL’s digital segment revenue in Q3 2019 grew 51.2 percent y-o-y to Rs 12,302 crore (5.8 percent of gross revenue) from Rs 8,136 crore (5.8 percent of gross revenue). Operating results for the digital segment grew 64 percent y-o-y to Rs 2,362 crore (1.1 percent of gross revenue) in Q3 2019 from Rs 1,440 crore. (1 percent of gross revenue). The segment’s contribution to operating results grew to 13.6 percent in Q3 2019 from 10.4 percent in Q3 2018.

RIL reported gross revenue of Rs 2,12,752 crore for Q3 2019 as compared to Rs 1,41,182 crore for the corresponding year ago quarter. Operating result for the period under review was Rs 17,341 crore as compared to Rs 13,830 crore for Q3 2018. The company reported profit for the period as Rs 10,376 crore which was 10 percent higher as compared to Rs 9,437 crore in Q3 2018. Total Comprehensive income for Q3 2019 was 28.8 percent higher y-o-y at Rs 11,052 crore as compared to Rs 8,582 crore.

FTTH JioGigaFiber services, Den Networks and Hathway Cable & Datacom Investments

In its earnings release, RIL said that JioGigaFiber services for home broadband, entertainment, smart home solutions, wireline and enterprise has witnessed overwhelming customer interest across 1,400 cities. Trial services are being rolled out across several cities to optimise service offerings.

The company said that Jio’s customer engagement stayed healthy with average data consumption per user per month of 10.8 GB and average voice consumption of 794 minutes per user per month. Video consumption drove most of the usage, increasing to 460 crore hours per month.

RIL said further that it awaits regulatory approvals to complete the recently announced investment in Den Networks Ltd and Hathway Cable and Datacom Ltd. Post completion of the transaction, Reliance and Jio will be strengthening the business model of 27,000 LCOs that are aligned with DEN and Hathway across 750 cities, by creating multiple future opportunities with new services and platforms.

RIL says that Jio added 2.79 crore subscribers in Q3 2019 and its net subscriber base grew to 28 crore. The company says that Jio has had the lowest monthly churn in the industry of 0.61 percent during the quarter. Jio’s ARPU for Q3 2019 was Rs 130 as compared to Rs 131.70 in the immediate trailing quarter.

Company speak

RIL chairman and managing director Ambani said, “In our endeavour to consistently create more value for our country and stakeholders, our company has become the first Indian private sector corporate to cross Rs 10,000

crore quarterly profits milestone. I am proud to be part of the committed and talented team at Reliance that has helped achieve many milestones in our continuing growth journey.

“In an oil price environment that witnessed heightened volatility through the quarter, RIL has delivered strong quarterly results on a consolidated basis. Competitive cost positions and integration benefits is core to our oil to chemicals (refining and petrochemicals) business, driving sustained performance even in challenging global business environment. In our new-age consumer businesses, we maintained robust growth momentum across Retail and Jio platforms and the share of consumer businesses is steadily increasing its contribution to the overall profitability of the Company. In our wireless business, our customer-centric offerings and strong ubiquitous network are helping to digitalise India at an unprecedented rate. As we execute on our strategies to deliver superior products and services to Indian consumers, I am confident, Reliance is well-positioned for the future and for the next cycle of growth,” concluded Ambani.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/07/ebay.jpg?itok=YjfoCmlE
eBay signs MoU with Uttar Pradesh govt for ‘One District One Product’ program

NEW DELHI:  eBay today signed an MoU with the government of Uttar Pradesh for its ‘One District One Product’ program. The MoU will enable MSMEs in Uttar Pradesh to leverage eBay’s cross border platform and sell internationally across 190 countries. As part of the MoU, eBay will not only promote...

iWorld e-commerce
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/07/netflix.jpg?itok=2t4qVCVP
Netflix goes more local, launches Hindi UI

KOLKATA: Netflix, the world’s leading streaming entertainment service, today launched its user interface in Hindi. This enables Netflix members who prefer Hindi to easily discover, access and enjoy their favourite Indian and international films and series. The complete Netflix experience in Hindi,...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/07/idna.jpg?itok=JG608oDA
India Today suspends print publication Mail Today; turns digital

NEW DELHI: Most newspapers in India are facing an uphill task to maintain their readership amidst the pandemic. India Today too faced the burn. The group announced that its English language tabloid Mail Today will suspend its print publication with effect from 10 August 2020. The reason stated is...

iWorld eNews
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/07/twitter.jpg?itok=1JWzAxWC
Twitter announces new labels for government, state-affiliated media accounts

NEW DELHI: Twitter has announced that the micro-blogging site has started labelling accounts of government officials and state-affiliated media. The blog read that it will focus on labelling ‘Senior officials and entities who are the official voice of the state abroad.’ For the time being, this...

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/07/tiktok.jpg?itok=w0WziBbx
US imposes ban on TikTok and WeChat

NEW DELHI: US President Donald Trump has announced that social media apps TikTok and WeChat are barred from operating in the US starting 20 September if they are not sold by their Chinese-owned parent companies. The video-sharing app TikTok has come under the lens of US lawmakers over national...

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/07/tv.jpg?itok=T68SdaRf
Are OTT players finding a sweet spot for pricing?

A recent report from Kantar spoke about the massive surge in SVoD growth in urban India. Hence, it is clear that Indians have started loosening the purse strings for premium online content.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/06/byju.jpg?itok=a5nVrI7d
BYJU’S acquires ed-tech start-up WhiteHat Jr

KOLKATA: BYJU’S, the leading ed-tech company, has announced that it has acquired Mumbai based ed-tech start-up, WhiteHat Jr.

iWorld eNews
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/06/mix.jpg?itok=YWv_KBwz
Discovery Plus celebrates 15 Aug with new episodes of 'Tales of Valour'

Discovery Plus has strengthened its offering in the armed forces-led content by dropping new episodes of Tales of Valour in the month of August.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/06/2.jpg?itok=YSK_Kxer
Airtel-AWS partner to offer cloud services to M&E firms

It’s hoping to take Indian companies further into the cloud. Telco Bharati Airtel has signed a multi-year, strategic collaborateon agreement with Amazon Web Services (AWS.) to deliver a comprehensive set of innovative cloud solutions to large enterprise and small and medium enterprise (SME)...

iWorld Telecom

Sign up for our Newsletter

subscribe for latest stories

* indicates required