Reliance Jio net profit increased to Rs. 4,518 Crore in September Q amid rollout of 5G services
India’s largest telecom operator Reliance Jio on Friday announced a 28% year-on-year increase in its net profit for the September quarter at Rs. 4,518 crore, adding subscribers and ARPU accelerated the identification process.
Its net profit stands at Rs. The telecom company said in a regulatory filing it was 3,528 crore in the same previous financial period.
Revenue from the operation of Reliance Jio Infocomm (RJIL) rose 20.2% to Rs. 22,521 crore for the quarter just ended from Rs. 18,735 crore during the previous one year period.
The Q2 scorecard comes amid a nationwide large-scale network rollout for 5G The much-talked two worlds smartphone market after China.
Net profit of parent company RJIL Jio Platforms (JPL) increased about 27% to Rs. 4,729 crore for the quarter reported from Rs. 3,728 crore it was recorded in the September quarter 2021.
Revenue from operations of JPL, which holds both the telecommunications and digital businesses, increased 22.7% to Rs. 24,275 crore from Rs. 19,777 crore in the previous quarter.
The company’s average revenue per user (ARPU) for the quarter improved 23.5% year-on-year to Rs. 177.2 per subscriber per month. Similarly, its ARPU – a key metric for telecom companies – rose from Rs. 175.7 in the June quarter.
JPL’s total customer base stands at 42.76 crore as of September 30.
During the reported quarter, average data consumption per user per month increased to 22.2GB while voice consumption per capita was 969 minutes.
Total data traffic on the Jio Network grew 22.7 percent to 28.2 billion GB.
During this quarter, Jio acquired the rights to use 25,040MHz technology agnostic spectrum for a term of 20 years for Rs. 88,078 crore payable over 20 installments annually, with interest calculated at 7.2% per annum.
The annual payment that the company will need to make at 7.2 percent interest is Rs. 7,877 crore.
Earlier this month, Jio announced it will begin beta testing of its 5G services in four cities of Delhi, Mumbai, Kolkata and Varanasi from October 5 with a select number of customers.
“After successfully demonstrating its True-5G services at Mobile India Congress 2022, Jio has announced beta testing of True-5G services on Dussehra’s auspicious occasion. Jio set a goal complete the rollout of 5G across India by December 2023”. the company said.
