Reliance Jio Q4 results: Profit jumps 47.5% to Rs 3,508 crore

Jio Platforms (JPL) posted a net profit of Rs 3,508 crore for the quarter ended March 31, 2021, as compared to Rs 2,379 crore in the same quarter of the previous fiscal. This translates to a 47.5 per cent year-on-year profit in the fourth quarter of financial year 2020-21. Net profit of JPL for FY21 stood at Rs 12,537 crore.

"Despite Covid related challenges, JPL closed its first full year of operations with revenue and EBITDA of Rs 73,503 crore and Rs 32,359 crore respectively. This has been driven by strong 45% YoY EBITDA growth at RJIL on the back of continued subscriber traction and higher ARPU," stated the company.

JPL also posted an average revenue per user (ARPU) during the quarter of Rs 138.2 per user per month. The company said that it exited FY21 with a customer base of 426 million, with Q4 gross additions at 31 million users.

The consolidated revenue from operations stood at Rs 18,278 crore, the company stated. "Quarterly JPL operating revenue was Rs 18,278 crore, sequential decline led by transition to Bill and Keep regime and lower number of days during the quarter. Like-for-like growth in operating revenue was ~30% YoY in Q4FY21. Also, quarterly EBITDA margin increased 600bps YoY to 46.9% with EBITDA at Rs 8,573 crore," it said.

JPL was established in October 2019 as a wholly-owned unit of Reliance Industries. It includes RIL's telecom business, Reliance Jio Infocomm, along with other digital properties and investments.

Jio saw an increase of 26.7 per cent year-on-year in total data traffic during the quarter of 1,668 crore and 17.9 per cent year-on-year growth of voice traffic of 103,290 crore minutes. "During 4Q FY21, average data consumption per user per month was strong at 13.3 GB and average voice consumption was at 823 minutes per user per month," it said.

"Jio has a highly engaged 426 million customer base and remains committed to enhancing digital experiences not only for our existing customers but, for all individuals, households, and enterprises across the country. With its path defining partnerships over the last couple of years, Jio will continue to strive towards making India a premier digital society. Covid has brought forth new challenges for the country. Jio's on-the-ground teams are working tirelessly to address all issues for ensuring seamless customer service. Jio's focus remains on making lives easy for all citizens through our digital solutions while ensuring safety of our employees and partners," said Mukesh Ambani.

Also read: Reliance Industries FY21 net profit rises 35% to Rs 53,739 crore