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Reliance Industries (Jio) - Q1 FY21 Results update

Jio Platforms Limited concludes fund-raising exercise with marquee list of investors Jio Platforms

Jio Platforms Limited concludes fund-raising exercise with marquee list of investors

  • Jio Platforms Limited has raised INR 152,056 crore across thirteen investors which includes Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund of Saudi Arabia, Intel Capital and Qualcomm Ventures.
  • Reliance Industries, post completion of these investments, would hold 66.48% equity stake in Jio Platforms on a fully diluted basis.
  • Of the total investment, Jio Platforms Limited has already received INR 115,694 crore as subscription amount from ten investors. INR 22,981 crore will be retained at Jio Platforms to drive future growth.
  • The investment process has been concluded with an investment of INR 33,737 crore by Google for 7.73% equity stake on fully diluted basis.
  • Jio Platforms and Google have also entered into a commercial agreement to jointly develop an entry level affordable smartphone with optimizations to the Android operating system and the Play Store.

 

Jio Platforms - Q1 (Cons) update

Reliance Jio Infocomm - Q1 (stand) update

Strong Financial Performance

  • Jio has reported strong Revenue and EBITDA growth driven by sustained subscriber momentum and ARPU improvement.
  • Quarterly operating revenue for RJIL increased 33.7% YoY to INR 16,557 crore with EBITDA margin of 44%.
  • Strong EBITDA growth of 55.4% YoY to INR 7,281 crore drives net profit to INR 2,520 crore during the quarter (growth of 183% YoY).

Connectivity

  • Total Customer base as of 30 th June 2020 was 398.3 million.
  • Strong wireless gross addition of 15.1 million during the quarter despite Covid related restrictions across the country.
  • Monthly churn rate for wireless subscribers at only 0.46% during the quarter.
  • Customer engagement has increased during the quarter with national lockdown driving average wireless data consumption per user per month to 12.1 GB and average voice consumption to 756 minutes per user per month.

 

Full read: RIL Q1FY21.pdf (302.83 kb)

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