Reliance Jio zoomed by 183% to Rs 2,520 crore in June quarter
Reliance Jio zoomed by 183% to Rs 2,520 crore in June quarter

Reliance Jio reported a net profit zoomed by 183% to Rs 2,520 crore in the quarter ending June.

The net profit stood at Rs 891 crore in the corresponding quarter previous year.

Standalone revenue from operations, including access revenues, of Rs 16,557 crore which grew by 33.7% Y-o-Y.

Standalone EBITDA margin stood at 44.0%, up from 37.8% in Q1 FY19-20.

Reliance Jio reported a standalone net profit of Rs 2,520 crore up by 182.8% Y-o-Y.

ARPU during the quarter of Rs 140.3 per subscriber per month.

Total wireless data traffic during the quarter of Rs 1,420 crore GB by 30.2% YoY with strong customer engagement and best-in-class network performance.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries said: "Jio started with a vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India. Thirteen investors, which include the largest technology companies and investors globally, now share a common vision with us".

Jio Platforms with partnerships across promising Indian startups and globally renowned technology companies is set to drive the next leg of hyper growth for digital businesses, he said.

"Our growth strategy is aimed at meeting the needs of all the 1.3 billion Indians. We remain focused on playing a leading role India's transformation into a Digital Society," Ambani said.

Reliance Jio in a press release said that there has been strong wireless gross addition of 15.1 million during the quarter despite Covid related restrictions across the country. Monthly churn rate for wireless subscribers at only 0.46% during the quarter.

JioMeet was used as a digital platform to host the 43rd AGM of Reliance Industries Limited virtually. During this event, JioMeet had 3.2 lakh concurrent users across 42 countries and 468 cities making it one of the largest shareholder meetings in the world.

Jio Platform Limited has raised Rs 1,52,056 crore across thirteen investors which includes Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund of Saudi Arabia, Intel Capital and Qualcomm.

Reliance Industries, post completion of these investments, would hold 66.48% equity stake in Jio Platform on a fully diluted basis.

Of the total investment, Jio Platform Limited has already received ` 115,694 crore as subscription amount from ten investors Rs 22,981 crore will be retained at Jio Platform to drive future growth.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal