The company's revenue rose 23.9 per cent to Rs 1,01,169 crore in the reported quarter as against Rs 81,651 crore in the year-ago period. Reliance Industries' results were weighed down to some extent on account of the pressure on the oil and gas exploration business at the company's flagship KG-D6 gas fields off India's east coast. The company says that ARPU for Q2-17 was Rs 156.4 per month. The rise in earnings exceeded expectations, and was helped by strong showing in the company's petrochemicals business, which saw robust margins. I am delighted to share that this includes the financial performance of Reliance Jio which had a positive EBIT contribution in its first quarter of commercial operations. Jio said its users consumed over 1.78 billion hours of high-speed video per month during the quarter. It expects to reach 95% population coverage, greater than 2G coverage of any other operator.
Reliance Industries refining business recorded a healthy increase in both prices and volumes. "Sustained demand growth coupled with supply disruptions further tightened demand-supply balances globally during the quarter", Mukesh Ambani said in a statement released after the quarterly results. The benefits of optimizing our business through new projects are beginning to emerge. "The structural strength in energy and materials business environment augurs well for our new capacities which are coming on-line this year", said Ambani. Our retail business has delivered broad-based, sustainable and profitable growth through improved operational excellence.
Commenting on the results, RIL chairman and managing director Mukesh D. Ambani, "The world is transforming, turning digital and India is not going to be left behind". "800 million Indians are now ready to move from voice to data and enjoy the multi-layered digital service", it added. The rapid uptake of Jio services reflects the latent need of the society.
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"He added, ". We are confident that Jio will bring significant benefits to the Indian economy and the Indian customers and will take India to a much higher pedestal".
Reliance Jio revealed that its total wireless data traffic stood at 378 crores GB during the quarter, while average voice traffic stood at 267 crore minutes per day.
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