Reliance Jio Q1 net profit rises 12% YoY to Rs 4,863 crore

Jio Infocomm, the telecom division of Reliance Industries, on July 21 announced standalone net profit for the quarter ended June at Rs 4,863 crore, recording a year-on-year growth of 12.17%. Compared to the previous quarter, an increase of 3.11%.
Its operating revenue stood at Rs 24,042 crore, up 9.91% year-on-year. Sequentially, it was up 2.76% from Rs 23,394 crore in the previous quarter, the telecom major said in its statement.
The company said earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter stood at Rs 12,278, up 0.55% q-o-q from Rs 12,210. EBITDA margin remained stable at 52.3%.
The company’s debt ratio stood at 0.21 times compared with 0.16 times a year ago. Operating margin remained steady at 26.2% while net margin increased 30 basis points to 17.2%. “Jio continues to make rapid progress in implementing its True5G network. Jio is on track to complete the rollout of 5G across India by December 2023. The new JioBharat phone is another innovation from Jio that combines network and device capabilities to help accelerate the “2G-MUKT BHARAT” vision and democratize the internet. “With these investments, Jio is embarking on a journey to accelerate the growth of connected and digital platforms over the next few years,” said Akash M Ambani, President of Reliance Jio Infocomm.
Jio said it continues to lead the industry in additional net subscribers with 9.2 million additions in the first quarter. Monthly churn also fell to 1.8% for the quarter.
Average revenue per user (ARPU) per month increased 2.8% year-on-year to Rs 180.5, thanks to a better mix of subscribers and increased business over the wired network. The company said that 5G adoption and the rise of FTTH led to a strong 28.3% year-on-year growth in data usage, with monthly data traffic on the Jio network exceeding 11 exabytes in the first quarter.