Jio’s June quarter profit jumped 23.82 per cent YoY to Rs 4,335 crore, in line with what the market had expected. The telecom operator’s Q1 revenue grew by 21.55 per cent to Rs 21,873 crore against Rs 17,994 crore reported in the June quarter of the last financial year.
An ET NOW poll had estimated PAT at Rs 4,460 crore and revenue at Rs 21,808 crore.
Reliance Jio Infocomm’s operating margin improved 20 basis points YoY to 26.2 per cent, while the net profit margin also recorded an improvement of 40 bps to 16.9 per cent. Jio’s revenue, PAT and margins were in line with Street expectations.
Jio said its average revenue per user (ARPU) jumped 27 per cent YoY and 4.8 per cent QoQ to Rs 175.7 per subscriber per month. EBITDA at Rs 11,424 crore was higher by 28.5 per cent YoY led by strong revenue growth and margin improvement.
The telecom operator said EBITDA margin at 48.7 per cent, increased 176 bps YoY due to ARPU increase in connectivity business partly offset by inflationary pressure on operating costs.
The total data traffic went higher by 27.2 per cent to 25.9 billion GB during the quarter and the total customer base stood at 419.9 million. Voice traffic recorded a growth of 17.2 per cent YoY.
“Jio is working towards expanding data availability for all Indians and I am pleased to see the positive trends in mobility and FTTH subscriber additions,” RIL chairman and MD Mukesh Ambani said in a release.
According to latest data from TRAI, Jio had gained over 31 lakh mobile subscribers in May, taking its mobile customer count to 40.87 crore.
In the 5G spectrum auction that is scheduled to begin on July 26, Jio had submitted the highest earnest money deposit (EMDs) of Rs 14,000 crore, much higher than Airtel’s Rs 5,500 crore and Vodafone Idea’s EMD of Rs 2,200 crore.
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