Jio's subscriber base crosses 530M, average revenue per user improves
What's the story
Reliance Industries Limited's telecom arm, Jio Platforms, has reported a steady improvement in its key operating metrics for the June quarter. The company's average revenue per user (ARPU) increased to ₹215.6 from ₹214 in the March quarter and ₹208.8 a year ago. Jio Platforms also witnessed a jump in its subscriber base, which stood at 533.3 million compared to 524.4 million last quarter and 498.1 million last year.
Financial performance
Jio Platforms reports growth in revenue, profit
Jio Platforms has reported a revenue of ₹45,961 crore for the June quarter, marking a 12% year-on-year (YoY) increase.
The company's operational revenue also saw an 11.8% rise to ₹39,173 crore.
Its EBITDA stood at ₹20,865 crore, up 15.1% YoY with margins at 53.3%, compared to last year's 51.8%.
The profit after tax rose by 9.2% YoY to ₹7,764 crore during this period.
Service expansion
Digital services business maintained growth momentum: Ambani
Reliance Industries Chairman Mukesh Ambani noted that the Digital Services business maintained its growth momentum during the quarter.
He said Jio's performance across mobility, home broadband, and enterprise services remained strong, driving healthy earnings growth of 15% YoY.
The company's 5G subscriber base stood at 285 million by the end of the June quarter, accounting for about 1.5 times the data traffic of 4G users.
Broadband expansion
Fixed broadband subscribers and data consumption
Jio's fixed broadband subscriber base reached 28.6 million, while JioAirFiber subscribers stood at around 14 million.
These contributed more than 75% of fixed broadband additions over the last year.
The company's monthly churn improved to 1.6% from last quarter's 1.7%.
Total data traffic grew by a whopping 26.9% YoY to an astounding 69.4 billion GB during this period, with per capita data consumption standing at a staggering 43.7GB/monthly usage rate among its users!
Upcoming IPO
Jio Platforms filed DRHP for IPO during the quarter
During the quarter, Jio Platforms Limited filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI), marking a major step toward its public listing.
"The upcoming IPO will be an important milestone in Jio's journey and will give investors an opportunity to participate in India's digital growth story."
Ambani said he was optimistic about the start as they move forward with phased commissioning of new energy projects and unlock value through the Jio IPO.