Reliance Jio’s net profit up 45% at Rs 990 cr in Q2 FY19

Agencies
October 19, 2019

Mumbai, Oct 19: Reliance Jio on Friday reported Rs 990 crore net profit for Q2 ending September, marking a year-on-year growth of 45.4 per cent on a standalone basis even as its average revenue per user (ARPU) fell while both data and voice volume grew significantly.

It's standalone revenue from operations was Rs 12,354 crore while standalone Ebitda stood at Rs 5,166 crore. The company's net profit was Rs 891 crore in the previous quarter.

Reliance Jio has become the world's second largest single country operator with over 350 million subscribers, the company said in a statement.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, said, "Jio crossed the 350 million subscriber mark to remain the world's fastest growing digital services company, and we are still adding more than 10 million new customers every month. Jio is not only India's largest telecom enterprise in terms of subscribers and revenues, but has also become the digital gateway of India."

Jio crossed Ebitda of Rs 5,000 crore with 41.8 per cent margin and is on track to achieve a 50 per cent margin.

The company said its ARPU stood at Rs 120 per month in the July-September period, coming down from Rs 122 per month in the previous quarter. Its ARPU fell for the seventh straight quarter.

Reliance Jio's ARPU was expected to decline as the operator has been aggressively adding JioPhone users who usually subscribe to low-cost plans. This is the seven straight time that Jio's ARPU fell, underlying low-paying user additions into its network. It means the additional users are not adding to the company's revenues.

Vodafone Idea posted an ARPU of Rs 108 in the June quarter. Airtel and Vodafone Idea are yet to announce their financial results for the September quarter.

Earlier this month, Reliance Jio had announced that it will charge customers 6 paise a minute for voice calls made to rival networks, but will compensate them by giving free data of equal value.

Last month, the telecom operator forayed into broadband business by offering six plans to users in the range of Rs 699 to Rs 8,499, with bundled in router, 4K set-top box, a television set and content and streaming services under its FTTH service.

The company's subscriber base was at 355.2 million as of September 30, as it added 2.4 crore subscribers in the second quarter.

Data traffic grew 56 per cent year-on-year, while voice growth was recorded at 52 per cent over last year.

The company is on track to achieve 50 per cent Ebitda margin. Its gross customer addition at 31.6 million and monthly churn rate reduced sequentially to 0.74 per cent. Inter-user connect charges for the last quarter was Rs 652 crore.

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News Network
April 23,2024

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The Karnataka government's decision to categorise the entire Muslim community as a backward caste for reservation purposes in the state has drawn criticism from the National Commission for Backward Classes (NCBC), which said such blanket categorisation undermines the principles of social justice.

According to the data submitted by the Karnataka Backward Classes Welfare Department, all castes and communities within the Muslim religion have been enlisted as socially and educationally backward classes under Category IIB in the State List of Backward Classes.

The NCBC, during a field visit last year, examined the state's reservation policy for OBCs in educational institutions and government jobs.

"All castes/communities of Muslim religion of Karnataka are being treated as socially and educationally backward classes of citizens and listed as Muslim Caste separately under Category IIB in the State List of Backward Classes for providing them reservation in admission into educational institutions and in appointments to posts and vacancies in the services of the State for the purpose of Articles 15(4) and 16(4) of the Constitution of India," the NCBC said in a statement on Monday night.

This categorisation has led to the provision of reservation benefits for 17 socially and educationally backward castes under Category I and 19 castes under Category II-A, respectively.

The NCBC said the blanket categorisation of Muslims as a backward caste undermines the principles of social justice, particularly for the marginalised Muslim castes and communities identified as socially and educationally backward.

However, the NCBC emphasised that while there are indeed underprivileged and historically marginalised sections within the Muslim community, treating the entire religion as backward overlooks the diversity and complexities within Muslim society.

"The religion-based reservation affects and works against ethics of social justice for categorically downtrodden Muslim castes/communities and identified socially and educationally backward Muslim castes/communities under Category-I (17 Muslim castes) and Category II-A (19 Muslim castes) of State List of Backward Classes. Hence, socially and educationally backward castes/communities cannot be treated at par with an entire religion," the NCBC stated.

The NCBC also voiced concern over the impact of such reservations on the overall framework of social justice, particularly in the context of local body polls.

While Karnataka provides 32 per cent reservation to backward classes in local body elections, including Muslims, the Commission stressed the need for a nuanced approach that accounts for the diversity within these communities.

According to the 2011 Census, Muslims constitute 12.92 per cent of the population in Karnataka.

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News Network
April 26,2024

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Bengaluru: Voting was underway on Friday in the first phase of Lok Sabha polls in 14 constituencies in Karnataka. Polling began at 7 am and will end at 6 pm.

A total of 247 candidates -- 226 men and 21 women -- are in the fray for the first phase covering most of the southern and coastal districts, where more than 2.88 crore voters are eligible to exercise their franchise in 30,602 polling stations.

The Congress and BJP are locking horns on the electoral battleground again in less than a year. This election is witnessing a straight fight between the ruling Congress and the BJP-JD(S) combine unlike the Assembly elections in May last year which witnessed a triangular contest among the three parties.

The state has a total of 28 Lok Sabha constituencies. The second phase of polling in the remaining 14 seats is on May 7.

In the first phase, while the Congress is contesting in all 14 seats, BJP has fielded nominees in 11 and its alliance partner JD(S), which joined the National Democratic Alliance in (NDA) in September last year, in three -- Hassan, Mandya and Kolar.

Besides the three, the segments where elections are being held on Friday are: Udupi-Chikmagalur, Dakshina Kannada, Chitradurga, Tumkur, Mysore, Chamarajanagar, Bangalore Rural, Bangalore North, Bangalore Central, Bangalore South and Chikkballapur.

According to Election Commission, 1.4 lakh polling officials are on duty for the first phase. Besides them, 5,000 micro-observers, 50,000 civil police personnel, and 65 companies of Central Paramilitary Force and State Armed Police force of other States have been deployed for security. All the 2,829 polling stations of Bangalore Rural parliamentary constituency are being webcast.

"This is as per the request of our returning officers and observers; so we have given more than double the Central paramilitary force for Bangalore Rural constituency. Seven companies of Central paramilitary forces have been inducted at the constituency since April 22," Karnataka Chief Electoral Officer Manoj Kumar Meena has said.

In fact, out of the total 30,602 polling stations in the first phase, 19,701 are webcast, and 1,370 covered via CCTVs, he had added. Chikkaballapur has a maximum number of 29 candidates, followed by 24 in Bangalore Central, and Dakshina Kannada has the least number at nine.

JD(S) leader H D Kumaraswamy from Mandya, his brother-in-law and noted cardiologist C N Manjunath from Bangalore Rural on a BJP ticket against Deputy CM D K Shivakumar's brother and MP D K Suresh of Congress, and erstwhile Mysuru royal family scion Yaduveer Krishnadatta Chamaraja Wadiyar from Mysore, from the BJP, are among the prominent candidates in the fray in the first phase.

Also in the contest are BJP MP Tejasvi Surya from Bangalore South pitted against Minister Ramalinga Reddy's daughter Sowmya Reddy of Congress, and Union Minister Shobha Karandlaje on BJP ticket from Bangalore North against former Indian Institute of Management Bangalore professor M V Rajeev Gowda of Congress.

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News Network
May 2,2024

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Hassan, May 2: JD(S) MLC Suraj Revanna on Thursday said that the scandal and charges of sexual abuse levelled against his brother and Hassan MP Prajwal Revanna was a "conspiracy to weaken their family politically".

He claimed that he has no information about the whereabouts of Prajwal Revanna, who has been served a notice by the Special Investigation Team over the alleged sex scandal involving him.

He termed the scandal and charges of sexual abuse against his brother and his father and MLA H D Revanna, a former Minister, as a conspiracy to weaken them politically, and expressed confidence about Prajwal's win in the Lok Sabha polls.

H D Revanna is the son of JD(S) patriarch and former PM H D Deve Gowda. Prajwal, grandson of Deve Gowda, was the BJP-JD(S) alliance's candidate from Hassan Lok Sabha segment, which went to the polls on April 26.

"The (sex scandal involving Prajwal Revanna) case has been handed over for investigation (to SIT), whatever has to be proved will get proved there. How can I react to it? I don't have information about Prajwal Revanna," Suraj Revanna told reporters here.

On an FIR being registered against his father H D Revanna too, he said, "Let them put a thousand more (FIRs), what has to be proved will ultimately get proved. People of our taluk and district know what Revanna is. I don't want to react."

"Anyone can do anything out of political malice. If you take Hassan politics, there is no competitor for Revanna. There is no one who has done politics like him. To weaken him, all these conspiracies are being hatched," he added.

Scores of explicit video clips allegedly involving Prajwal Revanna had started making the rounds in Hassan recently. The state government has constituted an SIT to probe the alleged sex scandal involving the MP.

The SIT on Tuesday issued notice to Prajwal Revanna and his father Revanna, who have been booked for alleged sexual harassment at the Holenarsipura police station in Hassan district on April 28, based on a complaint by a woman who worked in their house, directing them to appear for investigation.

Prajwal who reportedly left for Germany on April 27, the very next day of the polls, on Wednesday sought seven days' time to appear before the SIT.

Regarding reports of his meeting with Deputy Chief Minister D K Shivakumar, Suraj said they were mere speculations and that he had met the former in January, and after that no such meeting had taken place.

Asked whether JD(S) leaders and workers seem to be in some sort of confusion following the developments around the alleged sex scandal, the MLC said there is no confusion. "Even yesterday there were meetings held to take stock of the situation after the polls. Hundred percent Prajwal Revanna will win."

"Let anyone charge anything, let's wait and see what comes out of the SIT probe," he added.

Victims under pressure?

Meanwhile, victims in the videos of the alleged sex scandal involving the MP, are reportedly refusing to come before the SIT which is probing the case.

Some of the victims are said to have told the SIT officials that they don't want to talk to them about the case, while a few are not reachable, sources said.

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