At Rs 4,530 crore, Jio posts 5% increase in net profit

The company’s Ebitda margin declined marginally to 48.7% compared to 49% in the preceding quarter.

At Rs 4,530 crore, Jio posts 5% increase in net profit
Jio Platforms is a unit of Reliance Industries

Jio Platforms on Friday reported a 5% sequential rise in its net profit at Rs 4,530 crore during the April-June quarter. Revenue from operations increased 5.41% to Rs 23,467 crore, while Ebitda rose 4.63% to Rs 11,424 crore. The company’s Ebitda margin declined marginally to 48.7% compared to 49% in the preceding quarter. Jio Platforms is a unit of Reliance Industries under which its telecom arm Reliance Jio and all other digital platforms are housed.

The telecom arm, Reliance Jio, gained 9.7 million subscribers during the quarter, which was better compared with the preceding quarter when the net subscriber numbers witnessed a decline of 10.9 million users. The average revenue per user (Arpu) at Rs 175.7 was ahead of estimates. Analysts had estimated an Arpu of around Rs 174. In the preceding quarter, the company’s Arpu was at Rs 167.6.

Jio had undertaken about 20% hike across prepaid plans effective December 1, 2021, which improved its Arpu. Since Jio has various long-validity tariff plans, the impact of the hike is still flowing in. This is in contrast to other players like Bharti Airtel and Vodafone Idea, which had reported the full impact in Q4 of FY22

On other operating metrics, growth of Jio’s data traffic witnessed 5.28% jump sequentially to 25.9 billion GB as compared to 24.6 billion GB in the preceding quarter. Data usage per customer per month was up 5.58% quarter-on-quarter to 20.8 GB, a tad lower growth as compared to March-ended quarter’s growth of 7%.

Jio’s voice volume growth remained stagnant at 1.25 trillion minutes with usage per customer at 1,001 minutes per month as against 968 minutes per month in the preceding quarter. Gross subscriber addition stood at 35.2 million in Q1FY23, driven by both mobility and FTTH businesses.

In the preceding January-March quarter, the gross addition stood at 35.5 million. The total subscriber base stood at 419.9 million at the end of June 2022. Commenting on the performance, Mukesh Ambani, chairman, Reliance Industries, said, “I am happy with the progress of our consumer platforms. Customer engagement on our digital services platform remains high.

“Jio is working towards expanding data availability for all Indians and I am pleased to see the positive trends in mobility and FTTH subscriber additions”.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos