Jio Platforms logs 45% rise in Q1 net profit at Rs 3,651 cr

Jio Platforms Ltd on Friday reported a 44.9 per cent increase in its net profit for the April-June quarter, at Rs 3,651 crore.

During the same period of last fiscal, the company had reported a net profit of Rs 2,519 crore.

Its revenue from operations during the period under review was Rs 18,952 crore, higher by 9.8 per cent on a year-on-year basis.

Jio’s average revenue per user (ARPU) for 1Q FY22 was Rs 138.4, with improved subscriber mix and better seasonality being offset by Covid impact.

Its customer base as on June 30, 2021, was 440.6 million, with a net addition of 42.3 million customers YoY.

The total data traffic was 20.3 billion GB during the quarter, reporting a growth of 38.5 per cent on a YoY basis and the total voice traffic was 1.06 trillion minutes during the quarter, or 19.5 per cent growth YoY.

A company statement said that Jio and Microsoft have operationalised an initial 10 MW capacity of Jio-Azure cloud data centres across Jamnagar and Nagpur. Onboarding of pilot customers across SMEs and start-ups is underway with further enhancement in capacity would be done in subsequent quarters.

Jio and Google Cloud have embarked on a comprehensive, long-term strategic relationship with a goal of powering 5G in enterprise and consumer segments. This collaboration would develop 5G edge computing solutions across gaming, healthcare, education, and video entertainment. Google Cloud’s scalable infrastructure would also enable Reliance Retail to achieve better operational efficiency, modernise and scale for growth, and deliver better experiences to customers, it said.

It also informed that necessary approvals and trial 5G spectrum in 3GPP band n78 have been received for initiating 5G field trials. Jio 5G Standalone Network has been installed in its data centres across the country.

Commenting on the performance of Jio Platforms, Reliance Industries Ltd Chairman and Managing Director Mukesh D. Ambani said: “Jio has posted yet another record quarterly performance with industry leading operating metrics. I am thankful to Jio’s family of loyal subscribers whose number has grown further during the quarter, consolidating its position as India’s No 1 provider of digital connectivity and services. They appreciate our continuing focus on raising the bar for superior service quality.”