Reliance Jio, the largest telecom provider in India, reported a 28 percent year-over-year increase in its net profit for the September quarter, coming in at Rs. 4,518 crore. Subscription growth and ARPU increased realisations.
The telco reported in a regulatory filing that its net profit for the same period in the prior fiscal was Rs. 3,528 crore.
Reliance Jio Infocomm (RJIL) had a 20.2 percent growth in operating revenue for the most recent quarter, going from Rs. 18,735 crore to Rs. 22,521 crore.
The Q2 scorecard coincides with widespread network rollouts for 5G services across the nation, the much-discussed next-generation technology that is expected to usher in a new era of accelerated speeds, lag-free connectivity, and cutting-edge applications in India, the second-largest smartphone market in the world after China.
Jio Platforms (JPL), the parent company of RJIL, had an increase in net profit of roughly 27%, from Rs. 3,728 crore in the September 2021 quarter to Rs. 4,729 crore in the quarter under review.
JPL, which owns both telecom and digital businesses, saw a 22.7 percent increase in operating revenue to Rs. 24,275 crore from Rs. 19,777 crore in the same period last year.
The company’s average revenue per user (ARPU) increased by 23.5 percent year over year during the quarter to Rs. 177.2 per subscriber per month. Its ARPU, a crucial indicator for telecom providers, increased sequentially as well from Rs. 175.7 in the June quarter.
As of September 30, JPL has 42.76 crore customers overall.
Average monthly data consumption per user climbed to 22.2GB during the reported quarter, while average monthly voice consumption was 969 minutes.
Jio Network’s overall data traffic increased by 22.7% to 28.2 billion GB.
Jio paid Rs. 88,078 crore over 20 equal annual instalments throughout the quarter in exchange for the right to use 25,040MHz technology-neutral spectrum. Interest is calculated at 7.2 percent per year.
An annual payment of Rs. 7,877 crore will be required from the corporation at an interest rate of 7.2 percent.
The beta testing of Jio’s 5G services will begin on October 5 with a restricted group of subscribers in four cities: Delhi, Mumbai, Kolkata, and Varanasi.
“Post the successful demonstration of its True-5G services at the India Mobile Congress 2022, Jio announced the beta trial of its True-5G services on the auspicious occasion of Dussehra. Jio aims to complete its pan India 5G rollout by December 2023,” the company said.
