Jio profit soars on subscriber gains

India’s Jio Platforms, the digital arm of Reliance Industries, recorded another stellar quarterly performance, with double-digit gains in profit and revenue in its fiscal Q4 (ending 30 March) fuelled by strong subscriber and ARPU growth.

In a statement, the company said despite Covid-19 (coronavirus) related challenges, Jio Platforms closed its first full year of operations with net profit climbing 47.5 per cent to INR3.51 billion ($486.8 million) and consolidated revenue increasing 17.9 per cent to INR182.8 billion.

Reliance Jio’s mobile subscribers increased 10 per cent year-on-year to 426.2 million, while ARPU at the country’s largest operator rose 5.8 per cent year-on-year to INR138.20. Average monthly data usage grew 17.7 per cent to 13.3GB.

Mukesh Ambani, chairman and MD of Reliance Industries, said the pandemic has “brought forth new challenges for the country. Jio’s focus remains on making lives easy for all citizens through our digital solutions while ensuring safety of our employees and partners”.

He added that with its “path defining partnerships” over the last couple of years, Jio will continue to strive towards making India a premier digital society.

Following a spectrum auction in early March and a trading agreement with Bharti Airtel in April, Jio expanded its spectrum holding by 56 per cent to 1,732MHz.


Source link

Leave a Reply

Your email address will not be published.

You may use these <abbr title="HyperText Markup Language">html</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>


%d bloggers like this: