Broadband
Reliance Jio adds 27.9 mn subs in Q3; GigaFiber marks entry in 1400 cities
BENGALURU: Mukesh Dhirubhai Ambani’s juggernaut Reliance Industries Ltd (RIL) reported 50.7 percent growth in gross revenue for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the corresponding year ago quarter. The company’s operating result was 25.4 percent higher during the quarter under review as compared to the year ago quarter. Organised retail under Reliance Retail Ltd and Digital Services segment under Jio have been adding a larger and larger share to the company’s topline and operating results over time.
Q3-2019 was no different. Revenue for RIL’s Reliance Retail almost doubled (grew 89.3 percent) y-o-y in Q3 2019 to Rs 35,577 crore (16.7 percent of gross revenue) as compared to Rs 18,798 crore (13.3 percent of gross revenue) in Q3 2018. The segment’s operating result grew 210.5 percent y-o-y to Rs 1,512 crore (0.71 percent of gross revenue) during the period under review from Rs 487 crore (0.34 percent of gross revenue). The segment’s contribution to operating results grew to 8.7 percent in Q3 2019 from 3.5 percent in Q3 2018.
RIL’s digital segment revenue in Q3 2019 grew 51.2 percent y-o-y to Rs 12,302 crore (5.8 percent of gross revenue) from Rs 8,136 crore (5.8 percent of gross revenue). Operating results for the digital segment grew 64 percent y-o-y to Rs 2,362 crore (1.1 percent of gross revenue) in Q3 2019 from Rs 1,440 crore. (1 percent of gross revenue). The segment’s contribution to operating results grew to 13.6 percent in Q3 2019 from 10.4 percent in Q3 2018.
RIL reported gross revenue of Rs 2,12,752 crore for Q3 2019 as compared to Rs 1,41,182 crore for the corresponding year ago quarter. Operating result for the period under review was Rs 17,341 crore as compared to Rs 13,830 crore for Q3 2018. The company reported profit for the period as Rs 10,376 crore which was 10 percent higher as compared to Rs 9,437 crore in Q3 2018. Total Comprehensive income for Q3 2019 was 28.8 percent higher y-o-y at Rs 11,052 crore as compared to Rs 8,582 crore.
FTTH JioGigaFiber services, Den Networks and Hathway Cable & Datacom Investments
In its earnings release, RIL said that JioGigaFiber services for home broadband, entertainment, smart home solutions, wireline and enterprise has witnessed overwhelming customer interest across 1,400 cities. Trial services are being rolled out across several cities to optimise service offerings.
The company said that Jio’s customer engagement stayed healthy with average data consumption per user per month of 10.8 GB and average voice consumption of 794 minutes per user per month. Video consumption drove most of the usage, increasing to 460 crore hours per month.
RIL said further that it awaits regulatory approvals to complete the recently announced investment in Den Networks Ltd and Hathway Cable and Datacom Ltd. Post completion of the transaction, Reliance and Jio will be strengthening the business model of 27,000 LCOs that are aligned with DEN and Hathway across 750 cities, by creating multiple future opportunities with new services and platforms.
RIL says that Jio added 2.79 crore subscribers in Q3 2019 and its net subscriber base grew to 28 crore. The company says that Jio has had the lowest monthly churn in the industry of 0.61 percent during the quarter. Jio’s ARPU for Q3 2019 was Rs 130 as compared to Rs 131.70 in the immediate trailing quarter.
Company speak
RIL chairman and managing director Ambani said, “In our endeavour to consistently create more value for our country and stakeholders, our company has become the first Indian private sector corporate to cross Rs 10,000
crore quarterly profits milestone. I am proud to be part of the committed and talented team at Reliance that has helped achieve many milestones in our continuing growth journey.
“In an oil price environment that witnessed heightened volatility through the quarter, RIL has delivered strong quarterly results on a consolidated basis. Competitive cost positions and integration benefits is core to our oil to chemicals (refining and petrochemicals) business, driving sustained performance even in challenging global business environment. In our new-age consumer businesses, we maintained robust growth momentum across Retail and Jio platforms and the share of consumer businesses is steadily increasing its contribution to the overall profitability of the Company. In our wireless business, our customer-centric offerings and strong ubiquitous network are helping to digitalise India at an unprecedented rate. As we execute on our strategies to deliver superior products and services to Indian consumers, I am confident, Reliance is well-positioned for the future and for the next cycle of growth,” concluded Ambani.
Broadband
Tejas Networks names Arnob Roy as MD and CEO, overhauls top leadership team
The Bengaluru-based telecom gear maker reshuffles its entire top team even as quarterly revenue collapses by 83 per cent
BENGALURU: Tejas Networks is changing the guard at the top, and doing so at speed. The Bengaluru-headquartered telecom equipment maker has elevated Arnob Roy as managing director and chief executive officer, effective April 15, 2026, for a term running through to August 3, 2028, and in the same breath announced new appointments across operations and finance. The timing is pointed: the company is navigating one of the roughest patches in its recent history.
Roy steps up from his role as executive director and chief operating officer, a position he has held since March 2019. He brings more than three decades of experience in the high-technology sector across research and development, operations, and sales. His predecessor, Anand Athreya, resigned last year citing personal reasons and was relieved on June 20, 2025, leaving a gap at the top that has now been formally filled.
The numbers Roy inherits are sobering. Tejas posted a net loss of Rs 211.3 crore in the fourth quarter of fiscal year 2026, a near-194 per cent widening year on year from Rs 71.8 crore in the same period a year earlier. Revenue for the quarter collapsed 82.6 per cent year on year to Rs 333 crore, down from Rs 1,907 crore. EBITDA swung to a loss of Rs 118.2 crore against a profit of Rs 121.5 crore a year ago. The culprit is not hard to identify: Tejas has derived the bulk of its revenue from BSNL’s fourth-generation network project, delivered as part of a Tata Consultancy Services-driven consortium, and that roll-out is now winding down.
Roy, speaking during a post-earnings conference call with analysts, was candid about where the company has been. “The BSNL 4G network went live across 100,000 sites. We deployed our largest indigenous router networks in the country through the BSNL MAN network, as well as in the BharatNet Phase 3 network,” he said, adding that Tejas had also successfully rolled out its 400G and 800G DWDM equipment in domestic and international markets, and continued the deployment of what it describes as the world’s largest satellite IoT network through its vehicle tracking system solution.
The pivot to new revenue streams is already under way. Tejas has partnered with Japan’s Rakuten Symphony and NEC Corporation to push deeper into international markets, with several Open Radio Access Network trials ongoing, one of which concluded recently. The company is also diversifying across equipment categories and geographies to sustain momentum as the BSNL chapter closes.
To prosecute that strategy, Roy needs a full team around him. Preetham Uthaiah has been appointed chief operating officer, moving up from his current role as vice president of product management for wireless products at Tejas Networks. Uthaiah brings nearly 30 years of global experience spanning engineering, product management, and business development across India and the United States. Before joining Tejas Networks, he served as executive vice president of product management, marketing, and strategy at Saankhya Labs, and held senior roles at Tech Mahindra on both sides of the Atlantic. He holds an MBA from Arizona State University and a degree in electronics and communications from Karnatak University.
On the finance front, AVS Prasad has been approved as chief financial officer, effective May 16, 2026, succeeding Sumit Dhingra, who has resigned. Prasad, currently serving as finance controller at Tejas Networks, brings over 27 years of experience within the Tata Group across telecom, aerostructures, and defence. A company secretary and cost and management accountant by training, he has spent more than 15 years in senior finance roles including CFO and financial controller positions, with expertise spanning corporate finance, treasury management, regulatory compliance, internal audit, and governance.
New chief executive, new chief operating officer, new chief financial officer — all installed in a single move, at a moment when the company’s largest revenue source is drying up and the next chapter remains unwritten. Tejas Networks has placed its bets. Now it has to deliver.
