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    Jio Platforms Q4 Results: Net profit zooms 12% YoY to Rs 5583 crore

    Synopsis

    JPL's Q4 net profit increased by 12%. For the January-March period, JPL's consolidated net profit rose to Rs 5583 crore from Rs 4984 crore a year ago and Rs 5445 crore in the previous three months ended December, it said in a statement Monday.

    Jio PlatformsPTI
    Mumbai: Jio Platforms Ltd (JPL), which houses Reliance Industries’ telecom and digital properties, posted a better-than-expected 12% on-year rise in the fiscal fourth quarter net profit buoyed by strong mobile subscriber additions and increase in data consumption by users.

    However, average revenue per user (ARPU), a key performance metric for telecom operators, was flat at Rs181.7 in the absence of tariff hikes during the quarter.

    JPL's consolidated net profit rose to Rs 5,583 crore in the three months ended March 31 from Rs 4,984 crore a year earlier and Rs 5,445 crore in the December quarter. Profit topped the Rs 5,288 crore average of analyst estimates compiled by ET.

    Revenue from operations grew 13% on-year to Rs 28,871 crore, reflecting continued mobile subscriber additions and ramp-up in wireline services, the company said in a statement on Monday.

    “Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services,” said RIL chairman Mukesh Ambani.

    Reliance Jio Infocomm, India’s largest telecom operator, comprises the bulk of JPL's operations. Set up in October 2019, JPL also houses RIL’s digital properties and investments.

    Net profit at Reliance Jio rose 12.5% on-year in the March quarter to Rs 5,307 crore while revenue from operations grew 11% to Rs 25,959 crore. The company added 10.9 million subscribers in the quarter, expanding total user base to 481.8 million.

    “With over 108 million True 5G customers, Jio truly leads the 5G transformation in India,” Ambani said.

    Jio’s 5G network carries around 28% of its wireless data traffic, according to the company.

    The telco’s monthly per capita data usage was up at 28.7 GB in the March quarter from 27.3 GB in the earlier one, helped by an expansion of Jio’s 5G services coupled with increased consumption by Jio home broadband and AirFiber users. Per capita voice consumption also grew to 1,008 mins per month from 982 mins per month in the preceedig quarter.

    Its fiber-to-home offering, JioAirFiber, increased average daily data usage per user to 13 GB, 30% higher than JioFiber subscribers.

    For the financial year ended March 31, the telco’s profit increased 12% to Rs 20,372 crore. Revenue grew 10% to Rs 1,17,805 crore.

    "Jio's sequential revenue growth in the March quarter was largely driven by a combination of strong mobile user additions and economies of scale. But ARPU remained unchanged sequentially in the continuing absence of tariff hikes, 5G-related promotions and a fewer number of days in the fiscal fourth quarter,” Rohan Dhamija, head (India & Middle East) at Analysys Mason, told ET.

    Total wireless data consumption rose to 40.9 billion GB in Q4 from 30.3 billion GB a year ago while voice consumption came in at 1.44 trillion minutes from 1.31 trillion minutes previous year.

    For FY24, JPL’s net profit grew 12% to Rs 21,423 crore while revenue from operations also increased 12% to Rs 1,09,558 crore.


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    ( Originally published on Apr 22, 2024 )

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