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Business News/ Industry / Telecom/  Reliance Jio Q1 results: Net profit grows 45% to 3,651 cr, ARPU at 138

Reliance Jio Q1 results: Net profit grows 45% to ₹3,651 cr, ARPU at ₹138

Reliance Jio reported customer net addition of 14.3 million during the June quarter on sequential basis, , driven by traction across mobility and homes

Jio Q1 results (MINT_PRINT)Premium
Jio Q1 results (MINT_PRINT)

Reliance Jio reported net profit of 3,651 crore for the first quarte of current fiscal, rising 45 per cent as against 2,519 crore in the same quarter last fiscal. Cash profit during the period under review was 8,063 crore, higher by 31 per cent on annual basis.

Value of services during the June quarter increased to 22,267 crore, up 9.8 per cent from 20,277 crore in the year-ago period. Quarterly operating revenue stood at 18,952 crore, marking a growth of 19 per cent adjusted for IUC as compared to 17,254 crore, driven by continued subscriber traction in connectivity business.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew to 8,892 crore in Q1 FY22, rising 21.3 per cent as compared to 7,332 crore in Q1 FY21. EBITDA margin increased 440 bps Y-o-Y to 46.9 per cent from 42.5 per cent, reflecting operational efficiency.

The telecom arm of Reliance Industries reported average revenue per user (ARPU) of 138.4 per subscriber per month during the quarter under review, with improved subscriber mix and better seasonality being offset by Covid-19 impact, stated a regulatory filing by the parent company on Friday.

As on June 30, 2021, Jio's customer base stood at 440.6 million, with a net addition of 42.3 million customers on annual basis. During the quarter, the Mukesh Ambani-led telecom company registered net addition of 14.3 million to its subscriber base.

Subscriber churn reduced to 0.95 per cent in June quarter on account of customer-focused initiatives to minimise Covid-led disruption, RIL said in the filing. These initiatives included complimentary offers for JioPhone users, Emergency Data Loan, WhatsApp recharge option, and Freedom Plans with no daily data limits.

Reliance Jio informed that the total data traffic during the quarter was 20.3 billion GB, rising 38.5 per cent Y-o-Y. Meanwhile, total voice traffic grew to 1.06 trillion minutes during the quarter following an increase of 19.5 per cent on-year. Average data consumption per user per month during the quarter increased to 15.6 GB while average voice consumption was at 818 minutes per user per month.

On JioFiber, the company stated that despite challenges for on the ground physical work, the broadband connection now has more than 3 million connected homes with improving momentum in recent months.

"Recently acquired spectrum is being deployed rapidly, enhancing the network capacity and customer experience on the already best-in-class network," the company stated

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Updated: 23 Jul 2021, 08:41 PM IST
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