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Reliance Jio reported a 12. per cent increase in net profit in the first quarter of the current fiscal.
Profits rose to ₹4,863 crore (₹4,335 crore in Q1 FY23). Revenue from operations rose 9.9 per cent to ₹24,042 crore (₹21,873 crore). Consolidated Jio Platforms, which includes all digital businesses such as Jio Cinema, reported a profit of ₹5,098 crore compared to ₹4530 crore last year.
EBITDA margins at 50.2 per cent per cent increased 150 bps year on year. EBITDA for the operator was at ₹13,116 crore, up 14.8 per cent year on year.
Subscriber base for the operator was at 448.5 million, adding 9.2 million subscriber in this quarter. The operator’s net subscriber additions have been rising every quarter, net additions in Q1FY24 were 1.7 times the net additions, two quarters ago. ]
ARPU growth
The operator also reported an ARPU of ₹180.5, growing 0.9 per cent q-o-q, 2.8 per cent year on year. Quite predictably so, since the last price taken by the operator was more than a year ago. Total data traffic was at 33.2 billion GB during the quarter; higher by 28.3 per cent, year on year. Boost in streaming of the Indian Premier League contributed to the rising data traffic. Total voice traffic was 1.34 trillion minutes during the quarter, 7.2 per cent growth year on year.
5G plans
5G rollout for the operator is ahead of schedule according to Jio management, Reliance Jio will set up its complete 5G network before its self assigned deadline of December 2023. So far over 115,000 5G sites have been deployed, with approximately 690,000 5G cells.
The Management also added the the Jio Air Fibre is almost ready for launch, and Jio’s FTTH service continues to grow strongly. Nearly 80 per cent of the net adds in wireline services in India, came to Jio according to the leadership.
- Also Read: BL Explainer. What does the demerger of Reliance Industries and Jio Financials mean to investors
Akash M Ambani, Chairman, Reliance Jio Infocomm Limited, said, “Jio continues to make rapid progress in rolling out its True5G network. Jio is on track to complete pan India 5G rollout before December 2023. The new JioBharat phone is another innovation by Jio combining network and device capabilities to help accelerate ‘2G-MUKT BHARAT’ vision and democratise internet. With these investments, Jio is embarking on a journey to accelerate growth momentum across connectivity and digital platforms over the coming years.”
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