Reliance Jio Q4 net profit to Rs 510 crore; ARPU declines

29 April, 2018, 00:19 | Author: Grady King
  • Job alert Mukesh Ambani owned Reliance Jio plans to hire 80,000 employees

Reliance Jio's JioFi devices compete with Airtel's 4G hotspot which is available for Rs 999.

For the full financial year 2017-18, RIL, controlled by billionaire, recorded a profit of Rs 36,075 crore, an increase of 21 per cent while revenues were up by 31 per cent to Rs 4.3 lakh crore.

Following gain in the stock price, the company's market valuation soared by Rs 12,335.08 crore to Rs 6,30,185.08 crore. Revenue grew by 105% year-on-year to Rs 69,198 crore from Rs 33,765 crore.

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The digital services business, run under the brand, posted a net profit of Rs 510 crore in Q4FY18. As per the operator's Q4 report for the financial year 2017-2018, its total subscriber base now stands at 186.6 million.

During the year, Reliance Brands acquired 46.6% stake in Genesis Luxury Fashion, a leading player in the business of luxury apparel and accessories retailing for some of the leading worldwide luxury brands like Armani, Canali, Michael Kors etc.

Gross refining margin stood at United States dollars 11 per barrel, well within the range expected by most analysts. The digital services business posted an operating profit of Rs 1,495 crore compared to an operational loss of Rs 32 crore.

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Reliance Industries in other sectors too saw rising profits in Q4 and it is believed that it might soon be part of the $100 Billion Dollar club with the petro-chemical and retails arms of the huge conglomerate earning record net profits in this quarter of 2018.

Chennai: The Indian market moving towards privatisation has created new jobs, with companies like Reliance Jio reporting mass intake of personnel this financial year. Revenues from oil and gas business fell 43% to Rs. 746 crore and the segment reported a negative EBIT of Rs. 600 crore. Additionally, Company will also give a cashback of Rs 2200 under this offer. Outstanding debt as on March 31, 2017 was Rs 196,601 crore. For Jio Prime membership, subscribers will have to pay an additional recharge amount of Rs 99. Reliance declared a dividend of Rs 6 per equity share on the enhanced share capital on account of bonus issue in the ratio of 1:1 a year ago.

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