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Jio adds 27.8M subscribers, now at 280M at the end of Q3FY19

Reliance Industries Limited’s digital services business brought in revenues of Rs 12,302 crore for the quarter ended 31 December 2018 (Q3FY19), up 51.2% YOY from Rs 8,136 crore in Q3FY18, and up 12.4% from Rs 10,942 in the previous quarter. At an EBIT margin of 19.2%, the EBIT was Rs 2362 crore, up 64% from Rs 1440 crore in Q3FY18, and up 15% from the previous quarter.

This quarter in Reliance Jio 

  • 280.1 million subscribers, up from 252.3 million in the previous quarter, and 160.1 million in Q3FY18
  • Added 27.8 million net subscribers this quarter (as against previous four-quarter average of 28.4 million)
  • Net subscriber addition over the last 12 months was 120 million
  • Gross adds at 32.7 million, where Reliance claims the lowest industry churn rate at 0.61% per month
  • The company announced VoLTE international roaming between India and Japan
  • Jio music and Saavn were merged into JioSaavn, the music streaming service
  • JioCinema tied up with Disney India to stream the latter’s content

Jio’s metrics

Reliance Jio had a standalone net profit of Rs 831 crore for this quarter, up from Rs 681 crore in the previous quarter.

  • ARPU of Rs 130 per subscriber per month
  • Total wireless data traffic of 864 crore GB
  • Total voice traffic of 63,406 crore minutes
  • Average data consumption was 10.8 GB per user per month
  • Average voice consumption was 794 minutes per user per month
  • Video consumption drove most of the usage, increasing to 460 crore hours per month

4G, fiber and cable

Jio also expanded its 4G LTE network coverage “to 99% of population” which will be completed in the next few months. It claims to be the only network to deploy tri-band 4G (850MHz/ 1800MHz/ 2300MHz) across all its network sites. Reliance will look at separating its Fibre and Tower companies for use amongst RJIL, Jio Digital Fibre Private Limited and Reliance Jio Infratel Private Limited. The company is awaiting regulatory approval on its acquisition of Den Networks and Hathway Cable and Datacom.

RJIL’s board has approved a demerger of its optic cable fibre to Jio Digital Fibre Private Limited and transfer on a slump sale basis of its tower infrastructure to Reliance Jio Infratel Private Limited, awaiting NCLT approval.

Ajio, the online fashion arm, claims to have doubled its inventory from 60,000 to 115,000 in this quarter, and launched Ajio Gold, a segment for premium and luxury watches segment.

Download: Financials | Presentation

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