Reliance Jio posted some impressive results ever since it commercially entered the telecom sector. Now, Reliance Industries Limited announced its financial and performance results from Q2 this year, which included some announcements from the company’s telecom arm, Jio. The telco is said to be the second-largest telecom provider in India with 355.2 million subscribers. As per the company, 24 million new users have joined the network since the last quarter. In addition to this, the telco also detailed its net profit, ARPU (average revenue per user), total data and voice traffic and churn rate.
The Reliance Annual General Meeting (AGM) was held in October this year and at the event, it was announced that Jio had 331.3 million subscribers. The new numbers suggest good growth for the telco for Q2 this year but at the same time, the ARPU is going down and in Q2 it was Rs 120 per month, down from the previous quarter’s Rs 122 per subscriber per month. With Jio’s announcement of charging 6 paise for every minute of outgoing calls to other networks, this figure might increase. Although, there’s a possibility that the subscriber count could also be affected.
As for the churn rate, Jio apparently has the lowest numbers at 0.74 percent per month. The company’s net profit is at 990 crores, up from Rs 681 crore a year ago. As for the data and voice traffic, 12 billion GB was consumed on the telcos’ network with average data consumed by a user per month at 11.7GB, which represents a year-on-year growth of 55.9 percent. About 813 billion minutes of voice calling was processed on its network Jio’s network with an average voice consumption of 789 minutes per user, per month.
Rival telcos Vodafone-Idea and Bharti Airtel will announce their respective financial and performance results early November and later this month, respectively.