Jio added 7.3 million subscribers in Q2FY21, a modest increase compared to the 24.7 million additions in the same quarter last year. However, the company has crossed 400 million subscribers, something Jio says no telco outside China has done in a single country. Thanks to tariff hikes over the last few months, operating revenues have been steadily increasing, standing at ₹17,481 crore, up 33.14% YoY and 5.6% QoQ. Per capita data consumption, though, has not increased by much. Jio subscribers are consuming around 12GB of data per month, a mere 300MB increase year on year.

The company’s network had 20% more traffic than this quarter last year, 14.4 million terabytes (which translates to roughly 14.8 terabits per second of traffic in the quarter, with peak traffic likely to be much higher as internet traffic is likely comparatively negligible at night-time). Jio said it had seen a “[v]isible improvement in uptake” of its postpaid plans, but did not provide any further information.

Reliance acknowledged the lower-than-usual subscriber addition number, saying it was “offset partially by follow through impact of Covid on SIM consolidation and recharge cycle of migrant population”.

Operational highlights

  • Jio’s Average Revenue Per User stood at ₹145, up from Rs 140.3 in the previous quarter. This is up 13.8% YoY
  • Net subscriber additions for the quarter stood at 7.3 million, a 70.44% reduction YoY.
  • Average mobile data use is at 12GB, up from 11.7GB in the same quarter last year, and down somewhat from 12.1GB in the previous quarter.

Other financial highlights

  • EBITDA stood at Rs 7,971 crore, up 54.3% YoY.
  • EBITDA margin stood at 43.1%, compared to 41.8% in Q2FY20, and 42.5% in Q1FY21.
  • Operating revenue stood at ₹17,481 crore, up 33.14% YoY and 5.6% QoQ.

Results | Presentation

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