Jio Platforms Ltd (JPL), the holding company of Reliance Jio Infocomm, has posted a 47.5 per cent rise in net profit at ₹3,508 crore for the fourth quarter ended March 31, 2021, compared with ₹2,379 crore recorded during the same year-ago period.
During the period under review, the company’s revenue from operations rose 18.9 per cent to ₹18,278 crore from ₹15,373 crore recorded during the same quarter of the previous financial year, a company statement said.
Reliance Industries Ltd Chairman and Managing Director, Mukesh D. Ambani, said, “Jio has a highly engaged 426 million customer base and remains committed to enhancing digital experiences not only for our existing customers, but, for all individuals, households, and enterprises across the country. With its path defining partnerships over the last couple of years, Jio will continue to strive towards making India a premier digital society”.
“Covid has brought forth new challenges for the country. Jio’s on-the-ground teams are working tirelessly to address all issues for ensuring seamless customer service. Jio’s focus remains on making lives easy for all citizens through our digital solutions, while ensuring the safety of our employees and partners,” he added.
The company added 31.2 million gross customers (net addition of 15.4 million) in the quarter with improved traction across mobility and homes, and 99.3 million during FY21 despite Covid related challenges.
Churn reduced during the quarter to 1.26 per cent on the back of focused sales initiatives and a reducing Covid-19 impact in parts of the country during the quarter.
The average revenue per user (ARPU) for Q4FY21 was ₹138.2, with the sequential decline driven by transition from Interconnect Usage Charges (IUC) to a Bill & Keep regime effective January 1, 2021, and a lower number of days during the quarter.