Jio Infocomm, the telecom division of Reliance Industries, on October 27 reported standalone net profit for the quarter ended September at Rs 5,058 crore, registering a growth of 12.10 percent year on year. Compared to the previous quarter, it climbed 4 percent, helped by higher revenue.
Its revenue from operations came in at Rs 24,750 crore, rising 9.89 percent year-on-year. Sequentially, it rose 2.94 percent from Rs 24,042 crore in the previous quarter, the telecom major said in release.
Operating margin of the company improved 10 basis points year on year to 26.4 percent. Its profit margin rose 40 basis points to 17.40 percent.
“Jio True5G will soon be available pan-India to usher in a new digital era for Indians. JioAirFiber has seen very strong customer interest and is set to transform broadband infrastructure in the country by offering fiber like digital experience to homes and small enterprises. Ubiquitous 5G, JioBharat and JioAirFiber are three big growth engines for Jio which would accelerate market share gains and profitability,” said Akash M. Ambani, Chairman of Reliance Jio Infocomm.
Jio Platforms Q2
Jio Platforms, which includes Jio’s digital business including telecom, reported net profit for the quarter at Rs 5,297 crore, up 12 percent YoY from Rs 4,729 crore. Revenue from operations came in at Rs 26,875 crore, up 10.7 percent YoY. The company’s EBITDA jumped 12.6 percent to Rs 13,528 crore. EBITDA margin improved 80 basis points to 50.3 percent.
Average revenue per user (ARPU) per month of the company improved 2.5 percent YoY to Rs 181.7. It was at Rs 177.2 in Q2FY23 and Rs 180.5 in Q1FY24.
“Operating revenue (net of GST) growth was driven by industry leading subscriber growth across mobility and homes and scale-up of digital platforms,” the company said in a release. “ARPU increased driven by better subscriber mix across mobility and wireline partially offset by start of 5G services.”
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