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Tag: Jio Platforms Limited

  • Jio invests $15 million in deep tech startup Two Platforms

    Jio invests $15 million in deep tech startup Two Platforms

    Mumbai: Jio Platforms Ltd on Friday announced an investment of $15 million in Two Platforms Inc, a Silicon Valley-based deep tech startup founded by Pranav Mistry, for a 25 per cent equity stake on a fully diluted basis.

    Two will work collaboratively with Jio to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities, said the statement.

    Two is an artificial reality company with focus on building interactive and immersional AI experiences. After text and voice, it believes the next chapter of AI is visual and interactive. Two’s artificial reality platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming. The company plans to bring its interactive AI technologies first to consumer applications, followed by entertainment and gaming, as well as enterprise solutions including retail, services, education, health and wellness.

    The founding team at Two has several years of leadership experience in research, design and operations with leading global technology companies.

    Speaking on the investment, Jio director Akash Ambani said, “We are impressed with the strong experience and capabilities of the founding team at Two in the areas of AI/ ML, AR, metaverse and Web 3.0. We look forward to working together with Two to help expedite development of new products in the areas of interactive AI, immersive gaming and metaverse.”

    “Jio is foundational to India’s digital transformation. We at TWO are excited to partner with it to push the boundaries of AI and introduce applications of artificial reality to consumers and businesses at scale,” added Two CEO Pranav Mistry.

  • Jio topline almost triples as op rev climbs in Q1-20

    Jio topline almost triples as op rev climbs in Q1-20

    BENGALURU: Mukesh Dhirubhai Ambani’s largest start-up in the world Reliance Jio Infocomm Ltd (Jio Infocomm) saw standalone operating revenue climb 33.7 percent to Rs 16,557 crore for the quarter ended 30 June 2020 (Q1 2020, period or quarter under review) as compared to the Rs 12,383 crore for the corresponding year ago quarter Q1 2020. Standalone profit after tax (PAT) increased 182.83 percent (almost tripled) in the quarter under review to Rs 2,520 crore from Rs 891 crore in Q1 2020.

    The company says in an earnings media release that customer addition in Q1 2021 was 0.99 crore despite the COVID2019 related impact. It closed the quarter with 39.83 crore subscribers and ARPU of Rs 140.30 per subscriber per month, higher than the Rs 130.6 in the immediate trailing quarter Q4 2020.

    Jio Infocomm standalone EBITDA for Q1 2021 was Rs 7,005 crore, which was 50 percent higher y-o-y than the Rs 4,670 crore for Q1 2020. Standalone total income (net operating revenue plus other income. without GST) for Q1 2021 increased 35.8 percent y-o-y to Rs 16,833 crore from Rs 12,399 crore in Q1 2020. Jio Infocomm’s network standalone operating expenses during the period under review increased 36.6 percent to Rs 5,225 crore from Rs 3,284 crore.  Standalone access charges in Q1 2021 fell 10.4 percent to Rs 1,393 crore from Rs 1,555 crore. Standalone license fees/spectrum charges for Q1 2021 increased 41.3 percent y-o-y to Rs 1,818 crore from Rs 1,287 crore in Q1 2020. Standalone employee benefit expense in Q1 2021 fell 18.9 percent to Rs 318 crore from Rs 392 crore in Q1 2020. Standalone net finance cost in Q1 2021 declined 29.6 percent to Rs 1,168 crore from Rs 1,660 crore in Q1 2020. Standalone other expenses in Q1 2021 fell 3.7 percent y-o-y to Rs 523 crore from Rs 310 crore in Q1 2020.

    Jio Platforms Ltd

    Jio Platforms Ltd (Jio Platforms) is an Indian digital services company and a subsidiary of Reliance Industries Ltd. The company owns India's largest mobile network operator Jio Infocom and other digital businesses of Reliance Industries Ltd (RIL). Jio Platforms has raised Rs 152,056 crores to bolster Jio’s initiatives towards delivering breakthrough technologies and building the world’s leading digital services platform. Jio Platforms has raised the money 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 percent equity stake in Jio Platforms on a fully diluted basis. Of the total investment, Jio Platforms Limited has already received Rs 1,15,694 crore as subscription amount.

    Jio Platforms consolidated revenue for Q1 2021 increased 12.2 percent from Rs 15,373 crore reported for the immediate trailing quarter. Jio Platforms consolidated PAT for Q1 2021 increased 6 percent to Rs 2,519 crore from Rs 2,377 crore in Q4 2020. Jio Platforms consolidated EBITDA for Q1 2021 increased 12.8 percent q-o-q to Rs 7,047 crore from Rs 6,250 crore in Q4 2020.

    Company Speak

    RIL chairman and managing director Ambani said: “Jio started with a vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India. Thirteen investors, which include the largest technology companies and investors globally, now share a common vision with us. Jio Platforms Limited with partnerships across promising Indian start-ups and globally renowned technology companies is set to drive the next leg of hyper-growth for digital businesses. Our growth strategy is aimed at meeting the needs of all the 1.3 billion (130 crore) Indians. We remain focused on playing a leading role India’s transformation into a digital society.”

    Reliance Industries

    RIL consolidated revenue for the quarter was Rs 100,929 crore. Consolidated EBITDA for the quarter was Rs 21,585 crore. RIL says that despite lockdown due to COVID2019, net profit including exceptional items for the quarter was higher by 30.6 percent y-o-y at `Rs13,248 crore. Cash Profit was also higher by 16.7 percent y-o-y at Rs 18,893 crore. EPS including exceptional items for the quarter was Rs 20.7 per share, increased 22.1 percent y-o-y.

  • Jio juggernaut marches on with 62 percent bottomline growth in Q3 2020

    Jio juggernaut marches on with 62 percent bottomline growth in Q3 2020

    BENGALURU: Mukesh Dhirbhai Ambani’s largest start up in the world, Reliance Jio Infocomm Limited (Jio) reported 62.5 percent growth in standalone profit after tax (PAT) for the period ended 31 December 2019 (Q3 2020, period or quarter under review) as compared to the corresponding year ago quarter Q3 2019 (y-o-y). The company reported standalone PAT of Rs 1,350 crore for Q3 2020 as compared to Rs 831 crore for Q3 2019. The company’s standalone EBIDTA (including other income) expanded 38.2 percent y-o-y to Rs 5,601 crore in Q3 2020 from Rs 4,053 crore. Jio says that it became a net recipient of access charges within 2 months of implementation of IUC tariffs, with outgoing traffic in overall offnet traffic reducing to 48 percent by end of quarter.

    Further, the company’s standalone revenue from operations for the period under review grew 28.2 percent y-o-y to Rs 13,968 crore from Rs 10,884 crore in Q3 2019. Total income in Q3 2020 grew 28.5 percent y-o-y to Rs 13,986 crore from Rs 10,885 crore.

    Jio reported a subscriber base of 37 crore as on 31 December 2019. Gross subscriber additions were 3.71 crore with a net subscriber addition of 1.48 crore during Q3 2020. The company says that the 2.2 crore subscribers that were lost were primarily excessively heavy voice users, and exited owing to implementation of IUC tariffs due to regulatory uncertainty. ARPU during the quarter was Rs 128.4 per subscriber per month Jio says that customer engagement continues to be robust with average data consumption per user per month of 11.1 GB and average voice consumption of 760 minutes per user per month.

    Let us look at the other expenses reported by Jio

    Amongst the major expenses incurred by Jio in Q3 2020 were network operating expenses, access charges, license fees and spectrum charges and net finance costs.

    Jio’s standalone network operating expenses increased 38.7 percent y-o-y in Q3 2020 to Rs 4,423 crore from Rs 3,190 crore in the corresponding year ago quarter.  Standalone access charges reduced 4.2 percent y-o-y during the period under review to Rs 1,442 crore from Rs 1,506 crore in Q3 2019. Standalone license fees and spectrum charges increased 30.5 percent y-o-y during the quarter to Rs 1,483 crore from Rs 1,136 crore. Standalone net finance costs in Q3 2020 increased 79 percent y-o-y to Rs 1,953 crore from Rs 1,091 crore in Q3 2019.

    Standalone employee benefit expense in Q3 2020 declined 26.3 percent y-o-y to Rs 314 crore from Rs 426 crore. Standalone selling and distribution expense in Q3 2020 increased 20.3 percent y-o-y to Rs 356 crore from Rs 296 crore. Standalone other expenses in the period increased 32 percent y-o-y to Rs 367 crore from Rs 278 crore.

    Company speak

    Reliance Industries Limited (RIL) chairman and managing director Ambani said; “Jio has continued on its unprecedented growth journey receiving overwhelming customer response for best in class mobile connectivity services. We are delivering on our promise to be the driver of digital revolution in the country. Jio is also determined to redefine the wireline infrastructure, home entertainment and enterprise market in India with its FTTx services which bundle best-in-class connectivity with bouquet of digital content and services. To drive the next leg of growth, a truly transformational and disruptive digital services company has been set-up which will bring together India’s No.1 connectivity platform, leading digital app ecosystem and world’s best tech capabilities, for creating a truly Digital Society for each Indian.”

    Jio Platforms Limited

    Jio says in an earnings release that Jio Platforms Limited will hold all digital platforms including the connectivity platform i.e. Reliance Jio Infocomm Limited. Total capitalisation of Jio Platforms Limited is Rs 1,70,000 crore. The release says that the capital and organisation structure of Jio Platforms Limited has been benchmarked with global technology players.

    The Jio release also states that it has been developing and fostering a vibrant digital ecosystem through various digital applications, tools and platforms spanning self-care, information, entertainment, chat, utility tools etc. The release further states that Jio continues to focus on technology enabled emerging digital platforms that enable and accelerate digital society – healthcare, education, agriculture, commerce, gaming, government to citizen services, and many more. The company says that the platforms are also backed by investment in next-gen technologies like blockchain, AI/ ML, AR/ MR, edge computing.