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 25,2024

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The Election Commission of India on Thursday announced that it had taken cognisance of violations to the Model Code of Conduct by both Prime Minister Narendra Modi and Congress leader Rahul Gandhi.

While Modi has indulged in a diatribe against Muslims, without naming them, using terms like 'infiltrators' and 'those with more children', Rahul has been accused of making a false claim about 'rise in poverty'.

Both the BJP and INC have raised allegations of causing hatred and divisions based on caste, religion, language, and community, ANI reported.

While the EC had initially refused to comment on Modi's speeches, sources had told PTI that the commission was 'looking into' the remarks made by the BJP leader.

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News Network
May 1,2024

Mangaluru: The Bengaluru-Mangaluru air route has recently surpassed the Mumbai route to become the busiest for Mangaluru International Airport.

According to the Directorate General of Civil Aviation’s city pairing data for March this year, 51,734 passengers travelled between Mangaluru and Bengaluru, while 50,340 passengers flew on the Mangaluru-Mumbai route.

In January and February, the Mumbai air route had the highest passenger flow with 60,306 and 52,732 passengers, respectively, compared to 53,509 and 47,530 for Bengaluru during the same months. However, the trend shifted in March, with the Bengaluru-Mangaluru route surpassing Mumbai.

An official from MIA explained, “The first reason for Bengaluru taking over Mumbai is that flights that almost fly full to Mumbai were reduced from March, after the ministry of civil aviation suggested easing air traffic congestion at Mumbai airport. The air carrier IndiGo, which used to operate four flights a day from MIA, reduced it to three. Air India Express, which operates two flights a day, has made no changes. As a result of this, Bengaluru has taken over Mumbai. A total seven flights operates per day to Bengaluru.” 

The official added that despite the reduction in flights, the Mumbai route still experiences high demand. DGCA data for 2023 shows that the Mumbai and Bengaluru sectors have experienced growth of 11.9% and 19.3%, respectively.

The Mangaluru-Mumbai sector has seen a total of 5,52,767 passengers, followed by Bengaluru with 5,52,500 passengers in the same calendar year.

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News Network
April 26,2024

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Mangaluru/Udupi: The Dakshina Kannada and Udupi-Chikmagalur Lok Sabha constituencies recorded a tentative voter turnout of 77.4% and 76.1% respectively until 6 pm on Friday. In the 2019 polls, Dakshina Kannada recorded 77.9%, while Udupi recorded a 75.8% voter turnout.

The DK Lok Sabha constituency recorded a poll percentage of 71.8% at 5 pm. Among the constituencies, Sullia recorded a maximum of 78.4%, followed by Belthangady at 75.6%, Puttur at 75.2%, Bantwal at 73.7%, Mangalore at 73.5%, Mangalore City North at 69.8%, and Mangalore City South at 61.8%.

Urban apathy continued, with Mangalore City South recording the lowest polling percentage.

Meanwhile, Banjarumale, a remote village in Belthangady taluk, recorded 100% polling with all 111 voters showing up two hours before polling ended at 6pm.

Another interior polling station at Elaneer in the same taluk recorded 82% polling at 4 pm. The booth has 471 voters. The district has a total of 18,18,127 voters, with 9,30,928 females, 8,87,122 men, and 77 transgender individuals.

A good number of people turned out to vote during the early hours. Voters are bearing the scorching sun while stepping out to exercise their franchise as heat wave is sweeping through the state. 

The polling process remained largely peaceful, with long queues observed at polling stations from 7 am onwards in several polling stations. However, technical glitches caused delays at a polling station in Karopady, and at St. Xavier School Bejai, where polling was reportedly delayed by nearly two hours.

Polling staff at a booth near the Mulki police station mistakenly marked the wrong finger with ink during voting. They reportedly applied ink to the index finger of the right hand. According to sources, at least 50 individuals had their index finger of the right hand inked. Deputy Commissioner Mullai Mulihan clarified, "The matter was promptly addressed by the sector office. This error affected 8-9 voters"

A total of 18.18 lakh voters in the Dakshina Kannada Lok Sabha constituency and 15.85 lakh in Udupi-Chikmagalur hold the power to determine the fate of candidates competing for their respective segments. The polling process is currently underway across 1,876 booths in Dakshina Kannada and 1,842 polling stations in the Udupi-Chikmagalur segment.

In Dakshina Kannada, a closely contested battle is anticipated between Captain Brijesh Chowta representing the BJP and Padmaraj R Poojary from the Congress. Meanwhile, in the Udupi-Chikmagalur constituency, Kota Shrinivas Poojary of the BJP and K Jayaprakash Hegde of the Congress are the prominent contenders.

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