Reliance Jio’s subscriber base crosses 300 million in FY2019

Reliance Jio Infocomm Ltd’s subscriber base stood at 306.7 million in the financial year ending March 31, 2019. Jio has also reported strong financial performance with operating revenue of Rs 38,838 crore and industry leading EBITDA margin of 38.9 per cent in FY2019. Subscriber growth has remained steady, with net addition of 26.6 million during Q4 FY2019. 

Customer engagement metrics continued to increase, with Jio reporting average data consumption per user per month of 10.9 GB and average voice consumption of 823 minutes per user per month. Video consumption drove most of the usage, increasing to over 500 crore hours per month. 

Post completion of the acquisitions of Den Networks Limited and Hathway Cable and Datacom Limited (now majority owned by RIL Group after the open offer process completed in Q4 FY2018-19), the go-to-market strategy is being optimised with successful test results from beta trials across the country. 

Standalone net profit for Q4 FY2019 stood at Rs 840 crore. Standalone revenue from operations was reported at Rs 11,106 crore (7.0 per cent QoQ growth). Jio reported standalone EBITDA of Rs 4,329 crore (6.8 per cent QoQ growth) and EBITDA margin of 39.0 per cent. ARPU during the quarter was at Rs 126.2 per subscriber per month. 

Commenting on the results, Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited, said, “We at Jio are truly overwhelmed and proud to now serve over 300 million subscribers. Growth in data and voice traffic at this scale has been unparalleled. Jio’s network is one of the largest mobile data networks in the world, carrying over 3 Exabytes of data every month at unmatched download speeds. Jio 4G LTE network would soon cover every district, taluk, gram panchayat and village of India with targeted population coverage of 99 per cent.” 

He further said, “After successful execution of mobility business, Jio is now focused on catapulting India’s underserved Home & Enterprise connectivity market to global standards with its next generation FTTX services. Jio mobility services along with Gigafiber fixed-broadband services and associated technology platforms have been designed to transform India with the power of Digital Revolution and reinvent Reliance as a Technology Platform Company.”