Jio Platforms net profit surges 47% to Rs 3,508 crores in March quarter



News24

LAST UPDATED: May 1, 2021, 5:07 p.m.

New Delhi (Anish Yande): Reliance Industries Ltd has declared its quarterly results for the quarter ended March 2021. Subsidiary of Reliance Industries, Jio Platforms has also declared its results for the same quarter on April 30.

 

The telecommunications company recorded a jump in net profit by 47 percent in the March quarter. On Friday, shares of Reliance Industries were trading lower by 1.42 percent at Rs 1,994.45 on the BSE.

Jio Platforms March quarter results:

Jio Platforms Ltd reported a net profit of Rs 2,379 crore in the March quarter of FY20. The net profit of the telecommunications company grew to Rs 3,508 crore in the quarter ended March 31, 2021. The net profit of  Jio Platforms rose to a 47.5 percent year-on-year basis. 

Consolidated revenue of Jio Platforms fell 6.1% to Rs 18,278 crore as compared to the previous quarter.

The telecommunications company gained over 31 million users in the March quarter increasing the customer base to 426 million. The company recorded total data traffic of 1,668 crore GB in the March quarter, recording a growth of 26.7 percent YoY. Total voice traffic in the quarter rose to 103,290 crore minutes, a growth of 17.9 percent YoY.

Jio ARPU declines on a quarterly basis:

In the quarter ended on March 2020, Jio’s average revenue per unit is recorded at Rs 138.2 per subscriber per month. In the previous quarter, the ARPU was recorded at Rs 151 per subscriber per month.

In FY21, Jio Platforms operations with revenue were recorded at Rs 73,503 crore and EBITDA is recorded at Rs 32,359 crore. In the full year FY21, the net profit of the company is recorded at Rs 12,537 crore. 

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In the Spectrum Auction 2021, Reliance Jio acquired spectrum in 800MHz, 1800MHz, and 2300MHz bands. The company made an upfront payment of Rs 19,939 crore. 

Jio Platform’s revenue from operations was recorded at Rs 15,373 crore in the March quarter of the previous quarter. The company’s revenue from operations rose to Rs 18,278 crore in the March quarter of 2021, at an increase of 18 percent. 

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