Jio Platforms on Friday reported an 11.7 per cent year-on-year rise in consolidated net profit for June quarter at Rs 5,698 crore, its Q1 scorecard bolstered by subscriber gains although APRU remained flat sequentially.
Jio said its total subscriber tally has reached about 490 million, including 130 million 5G users, making it the largest 5G operator outside China.
Jio Platforms on Friday reported an 11.7 per cent year-on-year rise in consolidated net profit for June quarter at Rs 5,698 crore, its Q1 scorecard bolstered by subscriber gains although APRU remained flat sequentially.
Jio said its total subscriber tally has reached about 490 million, including 130 million 5G users, making it the largest 5G operator outside China.
The gross revenue of Jio Platforms -- which houses Reliance Industries' telecom and digital businesses -- stood at Rs 34,548 crore during the quarter, 12.8 per cent more than a year ago.
Revenue from operations at Rs 29,449 crore was also 12.8 per cent higher than the same period previous year. The growth in revenue from operations was primarily driven by robust subscriber growth across mobility and homes, the company said.
The double-digit EBITDA growth -- of 11.6 per cent -- was primarily led by healthy revenue growth and operating leverage, Jio said.
The Average Revenue Per User (ARPU), though, remained flat sequentially, and inched up 0.7 per cent over the year-ago period, as the recent tariff hikes on July 3, 2024 are set to play out on the company's financial metrics only from the September quarter.
"ARPU was Rs 181.7 with better subscriber mix, partially offset by increasing mix of promotional 5G traffic being offered on an unlimited basis to subscribers and not charged separately," the company said.
Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said the digital services business registered an "impressive" financial performance year-on-year, continuing its positive growth momentum.
"Jio's True 5G network, covering about 85 per cent of India's 5G capacity, continues to attract users, while the fixed broadband offerings are witnessing increasing consumer traction both in homes and enterprises.
"The attractive value proposition offered by Jio is enabling more Indians to transition to next-gen data networks," he said, adding that this is further accelerating the digital revolution, reshaping communications, analytics and computing, media and entertainment and commerce in India.
Jio, he said, is committed to providing the best-quality network at most affordable prices globally.
According to a release, Jio's engagement levels continued to remain strong with total data and voice traffic increasing 32.8 per cent and 6.6 per cent year-on-year, respectively.
Per capita data consumption increased to 30.3 GB per month, or more than 1GB per day. Jio said it has become the largest operator globally in terms of data traffic.
Akash Ambani, Chairman of Reliance Jio Infocomm, said, "Ubiquitous, high-quality, affordable internet is the backbone of Digital India and Jio takes pride in contributing to this. Our new prepaid plans would foster industry innovation towards 5G and AI and drive sustainable growth."
He added, "Jio with its superior network and new service propositions would further build its market leadership with a customer first approach."
Total data traffic on the Jio network increased about 33 per cent YoY to 44.1 Exabytes during Q1, FY25.
Reliance Jio Infocomm -- the telecom unit -- posted a 12 per cent year-on-year jump in standalone net profit for the June quarter at Rs 5,445 crore.
The revenue from operations for the telco -- the largest of three private players in the market -- rose 10 per cent year-on-year to Rs 26,478 crore in the first quarter of the current financial year, according to a BSE filing.
The net profit stood at Rs 5,445 crore for the quarter under review, which translates into an 11.9 per cent increase year-on-year and a 2 per cent rise sequentially.