Jio net profit climbs to INR23bn

1 May 2020

Indian mobile network operator Reliance Jio Infocomm (Jio) has booked gross revenue of INR174.21 billion (USD2.34 billion) for the three months to 31 March 2020, up from INR137.80 billion a year earlier. EBITDA for the period was up 43.2% year-on-year to INR62.01 billion, with EBITDA margin improving from 37.0% to 41.8% over the same period. Net profit for the quarter, meanwhile, nearly tripled y-o-y from INR8.40 billion in March 2019 to INR23.31 billion in the period under review. Jio counted a total of 387.5 million subscribers at end-March 2020, compared to 306.7 million twelve months earlier, with average monthly ARPU of INR130.6.

The cellco notes that customer engagement has increased significantly as a result of India’s anti-Coronavirus measures, claiming that data traffic was up by more than 50% since the start of the lockdown (25 March 2020). Mobile data traffic for the quarter totalled 12.84 billion GB – an increase of 34% y-o-y – whilst voice traffic rose by 21% to 846.34 billion minutes.

India, Reliance Jio Infocomm (Jio)