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Jio Platforms’ profit up 14% QoQ at Rs 4,313 crore; Arpu beats estimate at Rs 167.6

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On yearly basis, Jio Platforms’ net profit for FY22 stood at Rs 15,487 crore while revenue from operations was at Rs 81,587 crore.

Jio Platforms on Friday reported a good set of numbers during the January-March quarter on the back of tariff hikes undertaken towards the end of 2021, the full effect of which was reflected during the period under review.

The company, which houses the pure-play telecom service provider Jio as well as other digital services offered by Reliance Industries’, saw a 13.64% sequential rise in its net profit at Rs 4,313 crore. Revenue from operations during the quarter was up 8% at Rs 22,261 crore, while Ebitda rose 9% at Rs 10,918 crore. The company’s Ebitda margin expanded to 49% compared with 48.6% in the preceding quarter.

On yearly basis, Jio Platforms’ net profit for FY22 stood at Rs 15,487 crore while revenue from operations was at Rs 81,587 crore.

The company lost 10.9 million subscribers during the quarter, much higher than the preceding quarters when the net subscriber numbers had witnessed a decline of 8.5 million users.

The average revenue per user (Arpu) at Rs 167.6 was much ahead of estimates. Analysts had estimated an Arpu of around Rs 164. In the preceding quarter, the company’s Arpu was at Rs 151.6.

Jio had undertaken about 20% hike across prepaid plans effective December 1, 2021, which improved its Arpu. Full impact of the tariff hike will be reflected in Arpu and financials over the next few quarters as Jio has various long-term validity plans.

On other operating metrics, growth of Jio’s data traffic witnessed a 5% jump sequentially to 24.6 billion GB. Data usage per customer per month was up 7% q-o-q to 19.7 GB, a much higher growth compared to December quarter’s growth of 4.5%.

Jio’s voice volume growth improved sequentially by 9% to 1.2 trillion minutes, better than 5.5% in the preceding quarter. Usage per customer at 968 minutes per month increased sharply by 7.4% against 901 minutes per month in Q3 FY22.

Gross subscriber addition stood at 35.5 million in Q4FY22, driven by both mobility and FTTH businesses. In the preceding October-December quarter, the gross addition stood at 34.6 million. The total subscriber base stood at 410.2 million at the end of March.

Commenting on the performance, Mukesh Ambani, chairman, Reliance Industries, said, “I am pleased to report strong growth in our digital services and retail segments. Our relentless focus on customer satisfaction and service has led to higher engagement and increased footfall, driving robust revenue and earnings figures across our consumer businesses. JioFiber is now the largest broadband provider in India within two years of launch.”

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