Reliance Jio has released its quarterly financial performance report, along with its annual financial performance reporting for FY19. According to the report, in Q4FY19, Jio’s operating revenue stood at Rs 11,106 crore, growing at 7 percent QoQ (quarter-on-quarter), and 55.8 percent YoY (year-on-year) over Q4FY18. The strong financial report also saw the operator report net profit growth of 64.7 percent, which stood at Rs 840 crore for Q4FY19.
In terms of annual figures, Jio noted a manifold increase in financial performance in FY19. Operating profit for Reliance Jio stood at Rs 38,838 crore, nearly doubling from FY18. Net profit for Reliance Jio stood at Rs 2,964 crore, over three times of what the operator reported back in FY18. This marks a sharp growth phase for Jio, which scaled 26.6 million new users in Q4FY19 to become the fastest telecom operator in the world to reach 300 million users in its network.
Jio has also reported fairly strong customer engagement, with average per user data consumption of 10.9GB, and 823 minutes of data-based voice calling per month. The data-driven telecom operator became the first operator in India to present an all-data telecom network, which pushed the entire telecom industry to push down mobile data affordability across the country.
Reliance Jio has also been showing a steady upward curve in terms of new user onboardings as per monthly subscription reports published by the Telecom Regulatory Authority of India (TRAI). The operator looks set to continue its growth trend going into FY20, unless a large industry-wide disruptor has the same impact on Jio, as it had on its industry peers when it launched.
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