Reliance Jio Q3 net profit rises 10% to ₹3,615 crore
Premium- Revenue from operations rose 5% to ₹19,347 crore as against ₹18,492 crore in the last year period.
Reliance Jio, the telecom arm of Reliance Industries Ltd (RIL) net profit rose 10% year-on-year to ₹3,615 crore for the December quarter. It was ₹3,291 crore in the last year period.
Revenue from operations rose 5% to ₹19,347 crore as against ₹18,492 crore in the last year period.
Digital services has 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, Reliance Industries chief Mukesh Ambani said.
"Our digital services business has delivered broad based, sustainable, and profitable growth through improved customer engagement and subscriber mix," he added.
The company EBITDA (earnings before interest, tax, depreciation and amortisation) came in at ₹10,008 crore, higher by 18% year-on-year, and with this, quarterly EBITDA has crossed ₹10,000 crore for the first time.
Average Revenue Per User (ARPU) during the quarter improved to ₹151.6 per subscriber per month, led by better subscriber mix and recent tariff hike. It was ₹143.6 in the September quarter.
“Full impact of tariff hike to be reflected in ARPU and financials over the next few quarters," Jio said.
The total customer base as on 31 December, 2021 stood at 42.1 crore, net addition of 1 crore customers during the quarter.
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Jio said it maintained the top position in the 4G speed chart with a 22.0 Mbps average download speed in December 2021, according to data published by the Telecom Regulatory Authority of India (TRAI).
"Jio now has over 5 million connected wireline customers and has been consistently enriching its FTTH product with new apps on STB, Society Centrex, 4K content on JioTV+, Home Secure, Home Automation, LiveTV and Gaming solutions," the company said.
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