Reliance Jio Q2 results: Profit jumps 23.5% to Rs 3,728 cr; revenue up 7% to Rs 19,777 cr

Reliance Industries' telecom unit Reliance Jio on Friday reported a 23.5 per cent jump in its consolidated net profit at Rs 3,728 crore for the quarter ended September 30, 2021. Reliance Jio had posted a net profit of Rs 3,019 crore in the July-September quarter of last fiscal.

Cash Profit for the quarter was Rs 8,206 crore, up by 18.2 per cent year-on-year.

Revenue from operations surged 7 per cent to Rs 19,777 crore in the July-September quarter of the current fiscal, compared to Rs 18,496 crore in the year-ago period. The firm's gross revenue for the July-September quarter was up 15.2 per cent at Rs 23,222 crore from Rs 21,708 during the same quarter of the previous fiscal.

Earnings before interest, taxes, and amortisation (EBITA) of Reliance Jio stood at Rs 9,294 crore for the July-September quarter against Rs 7,871 crore during the same quarter last fiscal. EBITDA margin improved 390 basis points to 47 per cent during Q2 of FY22 compared to 46.9 per cent in Q2 of FY21.

The second quarter of FY22 saw Reliance Jio subscriber base reach 429.5 million with 23.8 million new customers.

"Meaningful acceleration in gross subscriber addition with total gross adds of 35.6 million in 2Q FY22, highest in last seven quarters. Healthy traction in both mobility and FTTH during the quarter," noted Jio in a regulatory filing.

The firm's average revenue per user (ARPU) rose to Rs 143.6 in the July-September quarter of FY22 from Rs 138.4 during the previous quarter.

Reliance Jio's total data traffic was 23.0 billion GB during Q2 of FY22. It was up 50.9 per cent from the same quarter last fiscal. Total voice traffic was 1.09 trillion minutes during the quarter under review, up 17.6 per cent YoY.

The firm explained that Jio 5G field trials have started at various locations with competitive positions, and capabilities comparable to global Tier1 vendors.

"Jio is actively trialling 5G use cases and exploring partnerships with global system integrators and SaaS providers to deliver 5G services. Jio 5G solutions have achieved a single-user peak throughput of 1.5 Gbps in field trials," it added.

Jio also stated that it has entered into partnerships with leading automobile OEMs in both two-wheeler and four-wheeler segments to provide automotive solutions designed to deliver an array of consumer and enterprise services.

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