Reliance Jio net profit up 9.8% for the quarter ended December FY22

India’s largest carrier registered Revenue Of 19,347 crore for the quarter, up 4.6% 18,492 crore and 3.26% more than in the same period last year 18,735 crore in the quarter ended September 2021.

Reliance Jio’s average revenue per user ARPU during the quarter was 151.6 per month, beating brokerage an estimate, due to better customer mix and the recent tariff hike. The ARPU level was an increase of 8.4% on a year-on-year basis, the company said, adjusted for interconnect usage charges.

“The full impact of the tariff hike will be visible over the next few quarters on ARPU and financials,” said Kiran Thomas, director, Jio Platforms, while announcing the results on Friday.

Jio had a total subscriber base of 421 million as of 31 December 2021, which included 10.2 million subscribers annually. For the quarter ended December, gross subscriber growth was 34.6 million driven by the mobility and fiber to home or FTTH businesses. During the quarter, Jio became the largest wireline service provider with 5 million connections, surpassing state-run BSNL.

The company said that 5G coverage plans for nearly 1,000 top cities across the country have been completed and trials were underway for advanced use cases in healthcare and industrial automation.

“We are actively exploring how to improve our 5G technology, an activity that is ongoing, as we are now conducting active trials in several cities in India,” Thomas said.

Thomas pointed to the company’s data on location and quantum, saying, “We’ve started planning work to roll out 5G networks, given the rich analytics we have and very clear visibility of usage across our networks.” ” Increase in data consumption across the country.

“We have very clear visibility of all the handsets, especially 5G-ready handsets, that are connecting to our network and from where they are connecting,” he added, adding that 5G is being deployed. Speaking of getting ready, once approval is obtained. Government.

carrier also prepaid 30,791 crore for clearing all deferred spectrum liabilities acquired in the auctions before March 2021, resulting in saving of interest cost 1,200 crore annually.

Jio Platforms Limited, a holding company for Reliance Jio and other digital businesses, reported a net profit of 3,795 crore, an increase of 8.8% from 3,486 crore in the same period last year, and 1.8% more 3,728 crore in the quarter ended September 2021. The company’s consolidated gross revenue for the quarter was 24,176 crore, up 13.8%, adjusted for interconnect usage charges, as compared to 22,858 crore in the same period last year.

Jio Platforms’ consolidated EBITDA for the quarter was 10,008 crore, 18.1% higher, with Jio Platforms’ EBITDA margin of 48.6%, IUC-related adjustments and an increase of 503 bps led by ARPU growth in the connectivity business, the company said. cash profit was 8,747 crore for the quarter, up 14.7% year-on-year.