Reliance Jio Profit Rises 24% To Rs 3,728 Crore In September Quarter

Reliance Jio Q2 Earnings: Net profit rose 24 per cent to Rs 3,728 crore

Mukesh Ambani-owned Reliance Industries’ telecom arm – Reliance Jio reported a jump of 24 per cent in net profit at Rs 3,728 crore on a consolidated basis in the second quarter of the current fiscal, compared to Rs 3,019 crore in the corresponding period last year.

Jio platform’s revenue from operations stood at Rs 23,222 crore in the July-September quarter of fiscal 2021-22, marking a growth of 15.2 per cent, compared to Rs 21,708 crore in the year-ago period, according to a regulatory filing by the company to the BSE on Friday, October 22.

Reliance Jio reported a total customer base of 429.5 million by the end of September 30, and a net addition of 23.8 million customers year-on-year. Jio’s average revenue per user (ARPU) – a key metric to evaluate the performance of a telecom company, improved to Rs 143.6 per user per month from Rs 138.4 in the preceding April-June quarter.

The company’s EBITDA (earnings before interest, tax, depreciation, and amortization) for the September quarter stood at Rs 9,294 crore, marking a growth of 16.6 per cent year-on-year, compared to Rs 7,971 crore in the same quarter last year.

During the 44th annual general meeting (AGM) of Reliance Industries announced an affordable, customer-friendly smartphone – JioPhone Next, in collaboration with Google. The smartphone is powered by an optimised version of the Android operating system (OS), that has been jointly developed by Google and Jio for the market in India.

Both Jio and Google are working to make JioPhone Next available available more widely in time for the Diwali festive season, according to Reliance’s statement.

JioFiber has over four million connected premises with continued improvement in customer connects every month. Jio’s optical-fiber network is now physically present outside 16 million premises, which will help address the demand for fixed broadband services.

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