Jio Platforms net profit rises 45% to Rs 3,651 crore in Apr-Jun

Reliance Industries' subsidiary Jio Platforms Ltd on Friday reported a 44.9 per cent year-on-year (YoY) increase in net profit at Rs 3,651 crore during April-June quarter.

The average revenue per user (ARPU) stood at Rs 138.4 per subscriber per month, Reliance Industries Ltd (RIL) said.

While revenue from operations rose 9.8 per cent YoY to Rs 18,952 crore, its EBITDA (earnings before interest, tax, depreciation and amortisation) grew 21.3 per cent to Rs 8,892 crore.

Jio's EBITDA margin was at 46.9 per cent during the quarter, same as in the preceding March quarter and higher than 42.5 per cent in June quarter last year.

Also Read: RIL net profit falls 7% to Rs 12,273 cr during Apr-Jun

Jio's customer base stood at 44.06 crore as of June 30, 2021, with net addition of 4.23 crore customers YoY. RIL said it is deploying rapidly the spectrum it acquired recently to enhance network capacity and customer experience.

On its fiber network, the company said, "Despite challenges for on the ground physical work, JioFiber now has more than 3 million connected homes with improving momentum in recent months. Engagement metrics have improved steadily across the customer base."

Meanwhile, RIL reported a 7.2 per cent YoY decline in consolidated net profit at Rs 12,273 crore for April-June quarter. Before exceptional items, its net profit rose 66.7 per cent to Rs 13,806 crore.