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

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.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
August 6,2020

The Indian Defence Ministry, which had in its document that China intruded into the Indian territory in eastern Ladakh in early May, on August 6 took down the page which it had uploaded on its website.

According to a report by news channel NDTV, the ministry, in its document, had said the Chinese aggression has been "increasing along the Line of Actual Control (LAC) and more particularly in Galwan valley since May 5."

"The Chinese side has transgressed in the areas of Kungrang Nala, Gogra and north bank of Pangong Tso Lake on May 17-18," the document, titled 'Chinese Aggression on LAC' stated.

The document revealed that "... a violent face-off incident took place between the two sides on June 15, resulting in casualties on both sides."

After the clash, a second corps commander level meeting took place on June 22 to discuss the modalities of de-escalation. "While engagement and dialogue at military and diplomatic level is continuing to arrive at mutually acceptable consensus, the present standoff is likely to be prolonged," it said.

A defence ministry spokesperson told the news channel that the document "did not go through him".

The opposition Congress, meanwhile, asked the government why the report was taken down with party leader Rahul Gandhi alleging that removal of the document from websites would not change facts.

"Forget standing up to China, India's PM lacks the courage even to name them. Denying China is in our territory and removing documents from websites won't change the facts," Gandhi tweeted.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 29,2020

New Delhi, Jun 29: Delhi Chief Minister Arvind Kejriwal on Monday paid tribute to the senior doctor of city government-run LNJP Hospital who died battling COVID-19, saying the society has "lost a very valuable fighter".

The 52-year-old doctor served in the front line of the war against the pandemic at the government facility, and died of novel coronavirus infection in an ICU of a private hospital on Sunday.

"Dr Aseem Gupta, a senior doctor of LNJP Hospital succumbed to Covid yday. He was known for going out of his way to serve his patients. We have lost a very valuable fighter. Delhi salutes his spirit and sacrifice...," Kejriwal tweeted.

The chief minister also said in his tweet that he has spoken to Dr Gupta''s wife and "offered my condolences and support".

LNJP Hospital is a dedicated COVID-19 facility under the Delhi government. It recently completed 100 days of being declared a coronavirus facility.

"LNJP Hospital has displayed great fortitude in the face of acute challenges. It''s recovery rate is going up, death rate is reducing, ICU capacity is being ramped up - the hospital is saving so many lives," the chief minister said.

A condolence meeting to pay respect to Dr Gupta has been scheduled at 1 pm in the office of the Medical Director of the hospital, a senior official said.

The doctor, a consultant anaesthesiologist died at the Max hospital, Saket in south Delhi, a private dedicated COVID-19 facility.

"He was a front line anaesthesia specialist who contracted COVID-19 infection while on duty. He tested positive on June 6, when he had mild symptoms and was shifted to a quarantine facility. His symptoms aggravated on June 7 and he was admitted in the Intensive Care Unit of the LNJP Hospital," the LNJP Hospital said in a statement on Sunday.

He was shifted to Max Hospital, Saket on June 8 on his request, it said.

The doctor was battling the disease for the last two weeks at Max Hospital, where he succumbed to the illness on Sunday, the statement said.

He was Specialist, Grade I, in the Department of Anaesthesia at the LNJP Hospital, the statement said.

Several hundreds of healthcare workers have been infected with COVID-19 till date in Delhi.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
May 18,2020

New Delhi, May 18: Very severe cyclonic storm ‘Amphan’, over central parts of South Bay of Bengal, has intensified into extremely severe cyclonic storm, the India Meteorological Department (IMD) said on Monday. The weather department has warned that ‘Amphan’ may turn into a “super cyclonic storm’.

According to experts, North Odisha coast will face the maximum impact of cyclone Amphan when it makes landfall.

“Wind speed expected to be 110-120 kmph, gusting up to 130 kmph. Balasore, Bhadrak, Jajpur, Mayurbhanj dist can be affected on 20 May (when it makes landfall), IMD Bhubaneswar scientist Umashankar Das told news agency ANI.

The IMD has said that ‘Amphan’ will cross West Bengal - Bangladesh coasts between Digha (WB) and Hatiya island - in the afternoon/evening of May 20 as very severe cyclonic storm.

Earlier, the IMD had warned that ‘Amphan’, over central parts of South Bay of Bengal, will intensify into an extremely severe cyclonic storm on Monday.

“Very Severe Cyclonic Storm (VSCS) ‘AMPHAN’ over central parts of South Bay of Bengal near latitude 12.5°N and longitude 86.4°E, about 870 km nearly south of Paradip (Odisha). To intensify further into an Extremely Severe Cyclonic Storm (ESCS) in the next six hours,” the IMD said in a tweet on Monday.

National Disaster Response Force (NDRF) has sent its 10 teams to Odisha and seven teams to West Bengal in view of the approaching Cyclone Amphan, news agency reported.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.