Reliance Jio, the telecommunications arm of Jio Platforms, on January 22 posted a net profit of Rs 3,489 crore for the quarter ended December 31, 2020. The profit was higher than the street expectations as analysts in a CNBC-TV18 poll had estimated the number at Rs 3,200 crore.
In the corresponding quarter of the previous financial year, Jio’s profit was Rs 1,350 crore. In the September quarter of FY21, the profit was Rs 2,844 crore. The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. A CNBC-TV18 poll had estimated ARPU at Rs 148.2.
Revenue, including access revenues for the quarter, was Rs 22,858 crore ($3.1 billion), up 5.3 percent QoQ. A CNBC-TV18 poll had estimated revenue to the tune of Rs 18,165 crore. EBITDA for the quarter stood at Rs 8,483 crore ($1.2 billion), up 6.4 percent QoQ. A CNBC-TV18 poll had estimated EBITDA at Rs 7,904 crore.
EBITDA margin came at 37.1 percent as against the CNBC-TV18 poll of 43.5 percent.
Jio witnessed a net addition of 52 lakh customers in the December quarter. Total customer base as on December 31, 2020, stood at 41.08 crore against a CNBC-TV18 poll of 41.18 crore. During the December quarter, Jio Platforms raised funds to the extent of Rs 33,737 crore by issuing equity shares to Google International LLC.
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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