Reliance Jio Q1 results: Net profit up 39% YoY at Rs 3,501 crore, EBITDA stands at Rs 8,892 crore

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Reliance Jio, the telecom arm of Reliance Industries Limited (RIL), has posted a net profit of Rs 3,501 crore in the first quarter of financial year 2021-22. The amount marks a 39 percent year-on-year growth in net profit for Jio.

In the quarter ending on June 30, 2021, the company recorded a total income of Rs 18,008 crore, an official statement noted. In the same period, its total expenses was recorded as Rs 13,313 crore. The profit before deduction of tax was stated as Rs 4,695 crore.

After deducting a tax of Rs 1,194 crore, the net profit for Q1 FY22 was recorded as Rs 3,501 crore.

The net profit declared in the Q1 results is higher than the CNBC TV-18 Poll's estimate of Rs 3,250 crore.

The company had, in the fourth quarter of last fiscal, recorded a 47.5 percent year-on-year profit, posting a net profit of Rs 3,508 crore.

The EBITDA (earnings before interest, taxes, depreciation, and amortization) in Q1 of FY22 stood at Rs 8,892 crore, marking a 21.3 percent YoY growth as EBITDA in Q1 of FY21 stood at Rs 7,332 crore.

The average revenue per user or ARPU, a key metric to determine the financial position of a telecom operator, stood at Rs 138.40, marginally above Rs 138.20 recorded in the previous quarter.

"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," an RIL press release quoted Chairman & MD Mukesh Ambani as saying.

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Meanwhile, RIL has posted a net profit of Rs 13,806 crore in Q1 of FY22.

The conglomerate, in its media release, noted that the earnings through its 'Digital Services' were "largely unaffected by second wave and continues to set new records".

The subscriber base has peaked to 440.6 million, with a "net addition of 14.3 million subscribers", RIL said.

The quarterly traffic is at over 20 exabytes or 20 billion GB – a growth of 38.5 percent year-on-year.

Total voice traffic during the quarter was of 1.06 trillion minutes, marking a 19.5 percent YoY growth.

The company is "poised to continue its leadership position with new offerings including Jio Next phone and strong growth in JioFiber, which currently has over 3 million connected homes", the statement added.

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