Jio Platforms on Friday reported a 2% sequential rise in its net profit at Rs 3,795 crore. Revenue from operations during the quarter was up 4.1% at Rs 20,597 crore, while Ebitda rose 7.7% at Rs 10,008 crore. The company’s Ebitda margin expanded to 48.6% compared with 47% in the preceding quarter, an increase of 160 basis points.
The company lost 8.5 million subscribers during the quarter, which is better compared with the preceding quarter when the net subscriber numbers slipped sharply, witnessing a decline of 11.1 million users.
The average revenue per user (Arpu) at `151.6 was much ahead of estimates. Analysts had estimated an Arpu of around Rs 144. In the preceding quarter, the company’s Arpu was at Rs 143.6.
Jio undertook about 20% hike across prepaid plans effective December 1, 2021, which improved its Arpu. Full impact of the tariff hike will be reflected in Arpu and financials over the next few quarters.
On other operating metrics, growth of Jio’s data traffic remained muted at 1.8% sequentially to 2,34,00,000 versus a 13% growth in the preceding quarter. Data usage per customer per month was up 4.5% q-o-q to 18.4 GB, a lesser growth compared to September-ended quarter’s growth of a sharp 12.8%.
Jio’s voice volume growth, however, improved sequentially by 5.5% to 11,50,000 million minutes, after seeing a slowdown in the preceding quarter. Usage per customer at 901 minutes per month increased sharply by 7.3% against 840 minutes per month in Q2 FY22.
Gross subscriber addition stood at 34.6 million in Q3FY22, driven by both mobility and FTTH businesses. However, it was lower compared with gross addition of 35.6 million in the July-September quarter. The total subscriber base stood at 421 million at the end of December.
Commenting on the performance, Mukesh Ambani, chairman, Reliance Industries, said, “Both our consumer businesses, retail and digital services have recorded highest ever revenues and Ebitda. During this quarter, we continued to focus on strategic investments and partnerships across our businesses to drive future growth.”