Mon. Oct 26th, 2020

Jio Platforms Added 99 Lakh New Customers in First Quarter of FY 2020-21

Jio Platforms Added 99 Lakh New Customers in First Quarter of FY 2020-21

HIGHLIGHTS
  • Jio has released its quarterly data for Q1 FY 2020-21
  • Jio Platforms has added 99 lakh new users
  • It has reported a net profit growth of 182.8 percent YoY

Jio Platforms said it added almost 1 crore new users in the quarter ending June 30 2020, taking its overall subscriber base to 39.8 crores. Jio released its quarterly data wherein it reported 182.8 percent growth in net profits over the same quarter last year. The service provider was able to add this high number of new users and report a huge year on year growth despite the coronavirus pandemic because of the various investments it received in the past months, as well as employing strategies like the Jio POS-Lite app.

As per the Q1 (FY 2020-2021) performance report of Reliance Jio, the service provider experienced growth across the board when it comes to financial performance. Jio added 99 lakh new customers in the quarter. However, in comparison to the previous January to March 2020 quarter, the number of subscribers added is lower as it brought in 1.75 crore new users.

Jio continues to increase its user base with strategies like the Jio POS-Lite app that it introduced in April. The app allows Jio subscribers to earn 4.16 percent commission for recharging other numbers. Additionally, it extended the incoming call validity for all its users during the lockdown.

The performance report also states that the average revenue per user (ARPU) for Jio during the first quarter for FY 2020-2021 is Rs. 140.3 per subscriber per month. Compared to last quarter’s Rs. 130.6 per subscriber per month, the ARPU has increased by about 7.4 percent. The total wireless data traffic was reported to be 1,420 crore GB which is a 30.2 percent year-on-year (YoY) growth compared to the same quarter last year. Further, the total voice traffic during the quarter grew by 13.2 percent over last year reaching 88,944 crore minutes.

Over the past few months, Jio Platforms has raised Rs. 152,056 crore from investments by Facebook, Google, Silver Lake, General Atlantic, and other organisations. It also announced its made in India 5G solution that will ready for trials as soon as 5G spectrum is available in India and ready for field deployment next year.