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MUMBAI, INDIA: Reliance Jio, which is wholly owned subsidiary of Reliance Industries Limited (RIL) today posted a net loss of Rs 270.59 crore in Q2, ended September, on the revenue of Rs 6,147 crore. This is the first time the company declared Jio's earnings since the official launch of its service in September last year.
This, however, didn't affect Reliance Industries' Q2 net profit, which rose to Rs 8,097 crore.
According to the company, the subscriber base of Jio grew to 138.6 million by the end of September, with a net addition of 15.3 million during Q2.
The new telco entrant said it had positive earnings before interest and tax (EBIT) of Rs 260 crore and earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 1,443 crore. "Positive EBIT in the first quarter of commercial operations, given tremendous uptake by subscribers and cost advantages generated through use of efficient 4G technology," said the company.
The average revenue per user (ARPU) for Jio stood at Rs 156.4/sub.
"India is ready to go digital, move from voice to data and Jio is creating the foundation of data for the next generation business. The rapid uptake of Jio services reflects the latent need of the society. We are confident that Jio will bring significant benefits to the Indian economy and the Indian customers and will take India to a much higher pedestal," Mukesh Ambani, Chairman and Managing Director, RIL said in a statement today.
"We are focussed on providing multi-layered digital services on top of the basic connectivity service to optimally utilise our world class infrastructure," said he.
The total wireless data traffic on Jio during the quarter was 378 crore GB, while the average voice traffic during the quarter was 267 crore minutes per day. "India is moving from voice to data; number of customers who have adopted Jio services in this quarter is at 19.5 million," said the company.
The highest per capita data consumption stood at 9.62 GB/ user/ month, while the highest per capita voice consumption stood at 626 minutes per month, despite the relatively new VOLTE technology.
Customer churn stood at 1 percent per month, but the company expects to reduce it further.