Reliance Jio has released details about its performance in the first quarter of the financial year and it looks like things are looking up for the telecom operator. According to the company, it added 28.7 million new subscribers to its network. This means that the company has added a total of 215.3 million subscribers on its network by the end of June this year.
The company also noted that it had a revenue of Rs 8,109 crore, which the company says is QoQ growth of 13.8 percent. Reliance Jio posted a net profit of Rs 612 crore. Further, the company notes that total wireless data traffic during the quarter was 642 crore GB, while voice traffic in the same period was 44871 crore minutes
Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said, “Jio continues on its path to drive digital revolution in India. We doubled our customer base and most user metrics in the last 12 months. 215 million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world. Jio has built an ecosystem for digital services and its affordable and simplified pricing strategy offers every Indian a chance to experience the “power of data”. FTTH and Enterprise services with strong fibre backbone across the country would further establish Jio’s leadership as a digital services provider. The continued strength in financial results of Jio despite competitive intensity reinforces the customer uptake of its services and its strong operating leverage. Jio is committed to offering most value to all of its stakeholders.”
Reliance Jio also acknowledged the planned roll out of its JioGigaFiber services. The announcement of the service was announced earlier this month. The company noted that customers across 1,100 cities can register for services starting from August 15. Priority will be given based on the number of requests received in a particular area