Jio Platforms Q3 net profit grows 15.5 per cent to Rs 3,489 cr

Jio Platforms Ltd (JPL), the holding company of Reliance Jio Infocomm, has posted a consolidated net profit of ₹3,489 crore for the third quarter ended December 31, 2020, a 15.5 per cent increase from the ₹3,020 crore posted during the sequential second quarter.

During the quarter under review, the company’s revenue from operations rose 5.3 per cent to ₹19,475 crore from the ₹18,496 crore recorded in the second quarter of this financial year. JPL has achieved an annualised revenue run-rate in excess of $10 billion with strong revenue and EBITDA growth, the company said in a statement.

The company’s customer base stood at 410.8 million as on December 31, with a net addition of 5.2 million customers. The average revenue per user (ARPU) rose to ₹151 during the quarter, compared with ₹145 in the trailing quarter.

The total data traffic during the quarter stood at 1,586 crore GB, recording a 4 per cent Q-o-Q growth, while total voice traffic rose 4.6 per cent to 97,496 crore minutes.

The wireless gross addition stood at 25.1 million as smartphone shipments improved with easing restrictions .

The company’s monthly churn rate for wireless subscribers remained elevated at 1.63 per cent with the continued impact of Covid and other factors.

The company also said it has honoured its commitment to make all domestic voice calls absolutely free from January 1, 2021.

Jio had earlier assured its users that the charge for offnet outgoing calls would continue only till the time TRAI abolished Interconnect User Charges.

During the quarter, average data consumption per user per month was at 12.9 GB as against 12 GB per user per month during the trailing quarter and average voice consumption was at 796 minutes per user per month during the quarter as compared to average voice consumption at 776 minutes per user per month during the trailing quarter.