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Reliance Jio Profit Rises 45% To Rs 3,651 Crore In June Quarter

Reliance Jio Q1 Earnings: Net profit rose 44.9 per cent to Rs 3,651 crore

Mukesh Ambani-owned Reliance Industries’ telecom arm – Reliance Jio reported a jump of 44.9 per cent in net profit at Rs 3,651 crore on a consolidated basis in the first quarter of the current fiscal, compared to Rs 2,519 crore in the corresponding period last year. (Also Read: Reliance Industries Profit Declines 7% To ₹ 12,273 Crore In June Quarter )

Jio platform’s revenue from operations stood at Rs 18,952 crore in the April-June quarter of fiscal 2021-22, marking a growth of 9.8 per cent, compared to Rs 17,254 crore in the year-ago period, according to a regulatory filing by the company to the BSE on Friday, July 23.

Reliance Jio reported a total customer base of 440.6 million by the end of June 2021, and a net addition of 42.3 million customers, driven by traction across mobility and homes.

The company’s EBITDA (earnings before interest, tax, depreciation, and amortization) for the June quarter stood at Rs 8,892 crore, marking a growth of 21.3 per cent year-on-year, compared to Rs 7,332 crore in the same quarter last year. The EBITDA margin expanded to 46.9 per cent, compared to 42.5 per cent in the corresponding quarter last year, reflecting operational efficiency.

The average revenue per unit or ARPU during the quarter was Rs 138.4 per subscriber per month, compared to Rs 138.2 per subscriber per month in the preceding January-March quarter of fiscal 2020-21. The telecommunication company’s value of services for the June quarter stood at Rs 22,267 crore, 9.8 per cent higher year-on-year, compared to Rs 20,277 crore in the same period of the previous financial 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.

JioFiber has more than three million connected homes with improving momentum in recent months, according to the company’s statement.


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