The Business Bytes
TBB BUREAU
MUMBAI, JULY 23, 2021
Reliance Jio on Friday reported a 44.9 per cent jump in its net profit to Rs 3,651 crore for the first quarter (Q1 of FY2021-22) ended June 30, 2021, according to a company statement.
The company had posted a net profit of Rs 2,519 crore during the corresponding period in the previous fiscal.
Company’s revenue from operations went up by 9.8 per cent to Rs 18,952 crore during the quarter under review from Rs 17,254 crore in the year-ago period.
Jio’s total customer base stood at 44 crore at the end of the Q1FY22 and the average revenue per user was Rs 138.4 per month during this period.
Value of Services for the quarter was Rs. 22,267 crore higher by 9.8 per cent than the same period in previous year while EBITDA for the quarter was Rs.8,892 crore increase of 21.3 per cent in comparison to Q1 EBITDA last year. Average Revenue Per User during the quarter was Rs.138.4 per subscriber per month.
Total data traffic on Jio network witnessed 38.5 per cent growth and stood at 20.3 billion GB during the quarter. During Q1FY22, average data consumption per user per month increased to 15.6 GB while average voice consumption was at 818 minutes per user per month. Jio rolled our several customer focused initiatives to minimize COVID led disruption during this quarter which included complimentary offers for JioPhone users, Emergency Data Loan, WhatsApp recharge option, and Freedom Plans with no daily data limits. Despite challenges for on the ground physical work, JioFiber now has more than 3 million connected homes with improving momentum in recent months.
Commenting on the results, Reliance Industries Limited Chairman and Managing Director Mukesh D. Ambani said: “The results of the First Quarter of FY2022 clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket.
Jio has posted yet another record quarterly performance with industry leading operating metrics. I am thankful to Jio’s family of loyal subscribers whose number has grown further during the quarter, consolidating its position as India’s No. 1 provider of digital connectivity and services. They appreciate our continuing focus on raising the bar for superior service quality.”
