Reliance Jio, a subsidiary of Reliance Industries, reported a net profit of Rs 3,651 crore, an increase of 45% year-on-year for the Q1FY22. The revenue for the quarter in the review grew Rs 18,952 crore, against Rs 17,254 crore a year ago. The strong quarterly numbers were driven by rise in mobile phone subscriber additions and higher data consumption.
The average revenue per user (ARPU) grew to ₹138.4 in the Q1, from from Rs 138.2 in the previous quarter on the back of “improved subscriber mix and better seasonality being offset by Covid-19 impact."
Net subscriber additions for Reliance Jio stood at 14.4 million in the quarter that just ended. Jio ended the April-June period with 440.6 million users."Churn reduced further during the quarter to 0.95% on the back of customer focused initiatives to minimize COVID led disruption. These included complimentary offers for JioPhone users, Emergency Data Loan, WhatsApp recharge option, and Freedom Plans with no daily data limits," the company added.
The average wireless data consumption per user per month increased to 15.6 GB and average voice consumption was at 818 minutes per user per month in the Q2FY21.
“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," Mukesh D. Ambani, chairman and managing director, Reliance Industries said.
Jio Platform Limited’s net profit stood at Rs 3,651 crore, against Rs 3510 crore at March-end and Rs 2,519 crore a year ago.
During the 44th AGM of Reliance Industries, Mukesh Ambani unveiled JioPhone Next in collaboration with Google. “JioPhone Next is a fully featured, ultra-affordable smartphone supporting the entire suite of applications from both Google and Jio as well as the Android Play Store. It is powered by an optimised version of the Android Operating System, that has been jointly developed by Jio and Google for the Indian market," the company said.