Reliance Jio posts a profit of ₹2,844 cr with a subscriber base of 400 mn

Reliance Jio on Friday announced the quarterly results for the second quarter of 2020. The company earned a net profit of ₹2,844 crores in the September quarter.

Reliance Jio announces Q2 2020 results. (MINT_PRINT)

Reliance Industries on Friday announced the quarterly results for the second quarter of 2020. In its quarterly results, the company announced that it had earned a profit of ₹2,844 crores in the quarter that ended on September 30.

The company's quarterly profit increased by ₹324 crore in the September quarter compared to the June quarter wherein the company earned a profit of ₹2,520 crore. The company's net profit witnessed a jump of nearly 48% compared to the same time last year wherein Reliance Jio earned a profit of ₹990 crore.

Reliance Jio announced that it earned ₹17,687 crores at the end of the September 2020 quarter, which is marginally higher than the previous quarter wherein the company earned ₹16,833 crores. By comparison, Reliance Jio earned ₹13,157 crore in the quarter ending in September 2019, which is ₹4,530 crore less than the company's earnings in September 2020 quarter.

Reliance Industries announced that its consolidated revenue for the quarter stood at ₹128,385 crore, which is higher by 27.2% higher than the previous quarter. The consolidated revenue of Jio Platforms, on the other hand, stood at ₹21,708 crore. Similarly, the consolidated revenue for Reliance Retail stood at ₹41,100 crore in the September 2020 quarter, which is 30.0% higher than the previous quarter.

The consolidated EBITDA for Reliance Industries stood at ₹23,299 crore in the September 2020 quarter. 

As far as the other two arms, that is Jio Platforms and Reliance Retail, are concerned, the EBITDA and the net profit for the former stood at ₹7,971 crore and ₹3,020 crore respectively. For latter, these figures stood at ₹2,006 crore and ₹973 crore respectively.

In addition to this, the company announced that Reliance Jio's total user base stood at 405.6 million as of September 30, 2020, which marks a growth of 1.8%. The company's ARPU during the September 2020 quarter stood at ₹145.0 per subscriber per month as against ₹140.3 per subscriber per month in the trailing quarter. The total wireless data traffic during the past quarter stood at 1,442 crore GB marking a growth of 1.5% growth compared to the previous quarter.

Reliance Retail, on the other hand, had a whopping 11,931 physical stores operational by the end of September 2020. The company added a total of 125 stores during the quarter.

“Domestic demand has sharply recovered across our O2C business and is now near pre-Covid level for most products. Retail business activity has normalised with strong growth in key consumption baskets as lockdowns ease across the country. With large capital raise in last six months across Jio and Retail business, we have welcomed several strategic and financial investors into Reliance family,” RIL Chairman Mukesh Ambani said on the occassion.