Reliance Jio profits jumps 44.9% to Rs 3,651 cr with net addition of 14.3 million subscribers during Apr-June

By: |
Updated: July 23, 2021 9:00 PM

Reliance Jio on Friday reported a net profit of Rs Rs 3,651 crore during the first quarter of financial year 2021-22.

jio plansAs on June 30, 2021, Reliance highlighted that its customer base is at 440.6 million.

Reliance Jio on Friday reported a net profit of Rs Rs 3,651 crore during the first quarter of financial year 2021-22. The company recorded a jump of 44.9 per cent in profits for Jio platform from Rs 2,519 crore net profit reported during the first quarter of FY21. During the period, the EBITDA for Jio platforms stood at Rs 8,892 crore whereas the revenue for operations stood at Rs 18,952.

For the period April to June 2021, Jio recorded a net addition of 14.3 million subscribers driven by traction across mobility and homes. As on June 30, 2021, Reliance highlighted that its customer base is at 440.6 million. During the quarter, total data traffic was 20.3 billion GB. At the same time, Jio witnessed voice traffic at 1.06 trillion minutes, a 19.5 per cent growth Y-o-Y. According to the company, churn reduced further during the quarter to 0.95 per cent “on the back of customer focused initiatives to minimize COVID led disruption. These included complimentary offers for JioPhone users, Emergency Data Loan, WhatsApp recharge option, and Freedom Plans with no daily data limits.”

The average revenue per user (ARPU) for the quarter ending June 30 was at Rs 138.4, with improved subscriber mix  and better seasonality being offset by COVID impact.

“Jio has posted yet another record quarterly performance with industry leading operating metrics. I am thankful to Jio’s family of loyal subscribers whose number has grown further during the quarter, consolidating its position as India’s No. 1 provider of digital connectivity and services. They appreciate our continuing focus on raising the bar for superior service quality,” said Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited.

Further, JioFiber now has more than 3 million connected homes with improving momentum in recent months. “Despite challenges for on the ground physical work, engagement metrics have improved steadily across the customer base,” the company said in a statement. Additionally, Jio platform is building on having 5G presence and leverage it for computing solutions across gaming, healthcare, education, and video entertainment. The company highlighted that necessary approvals along with trial 5G spectrum in 3GPP band n78 have been received which will allow initiation of 5G field trials. Apart from this, Jio 5G Standalone Network has been installed in the company’s data centres across the country.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Troubles mount for Finolex Cables ahead of AGM on Tue; company blames cousin Prakash Chhabria
2Essar Oil UK says ‘confident in its future’ amid media speculation
3RBI imposes Rs 2 crore penalty on RBL Bank