Jio Infocomm, the telecom division of Reliance Industries, on July 21 reported standalone net profit for the quarter ended June at Rs 4,863 crore, registering a growth of 12.17 percent year on year. Compared to previous quarter, it climbed 3.11 percent.
Its revenue from operations came in at Rs 24,042 crore, rising 9.91 percent year on year. Sequentially, it rose 2.76 percent from Rs 23,394 crore in the previous quarter, the telecom major said in release.
The company said its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter came in at Rs 12,278 crore, rising 0.55 percent QoQ from Rs 12,210 crore.
EBITDA margin was steady at 52.3 percent.
Debt equity ratio of the company stood at 0.21 times compared to 0.16 times a year ago. Operating margin was steady at 26.2 percent while net profit margin increased 30 basis points to 17.2 percent.
“Jio continues to make rapid progress in rolling out its True5G network. Jio is on track to complete pan India 5G rollout before December 2023. The new JioBharat phone is another innovation by Jio combining network and device capabilities to help accelerate ‘2G-MUKT BHARAT’ vision and democratize internet. With these investments, Jio is embarking on a journey to accelerate growth momentum across connectivity and digital platforms over the coming years,” said Akash M Ambani, Chairman, Reliance Jio Infocomm.
Jio said it continued to lead industry’s net subscriber addition with 9.2 million additions in Q1 . Monthly churn was also reduced to 1.8 percent during the quarter.
Average Revenue per User (ARPU) per month increased 2.8 percent YoY to Rs 180.5 driven by better subscriber mix and ramp-up of wireline business.
The company said 5G adoption and FTTH ramp-up drove a strong 28.3 percent YoY growth in data usage as monthly data traffic on Jio network crosses 11 exabytes during Q1.
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