Jio books INR5bn profit in Q3

22 Jan 2018

Mobile newcomer Reliance Jio Infocomm (Jio) has posted its first net profit since its launch in September 2016, recording a net profit of INR5.04 billion (USD78.8 million) for the three months ended 31 December 2017. The cellco booked gross revenue of IN81.14 billion for the period, up 12.7% from INR71.97 billion three months earlier on the back of a strong subscriber additions and a stable ARPU: Jio’s user base grew from 139 million in September 2017 to 160 million three months later, whilst ARPU edged downwards from INR156 per month to INR154. EBITDA for the period under review was INR26.28 billon – with a margin of 38.2% – compared to IN14.43 billion (margin of 23.5%) three months earlier. The operator was aided by the reduction in interconnection usage charge (IUC), effective from 1 October 2017, with the Economic Times noting that Jio’s IUC expenses were slashed from INR21.40 billion to INR10.82 billion as a result.

India, Reliance Jio Infocomm (Jio)