Jio Platforms Q4 Net Profit up 47.5% Despite COVID-19 Crisis in India

Jio Platforms Q4 Net Profit up 47.5% Despite COVID-19 Crisis in India

Reliance’s Jio rigs achieved a 47.5 percent year-on-year increase in net profit in the January-March quarter. Jio ‘platforms the net profit stood at Rs. 3,508 million rupees despite the ongoing coronavirus pandemic in the country. The company completed its first full year of operations with Rs. Income of Rs 73,503 crore and earnings of Rs 32,359 crore before interest, taxes, depreciation and amortization (EBITDA).

A notable fact about the performance of Jio Platforms in the quarter is that the net profit increased even as average revenue per user (ARPU) decreased to Rs.138.2. The ARPU in the first quarter of FY2020-21 was Rs 140.3 per month. According to the company, the ARPU was reduced due to the “Transition from the interconnection use charges regime (IUC) to the billing and maintenance regime” and fewer days in the quarter.

“JPL’s quarterly operating income was ₹ 18,278 crore, a sequential decline led by the transition to the Bill and Keep regime and fewer days during the quarter. Comparable growth in operating income was ~ 30% YoY in the fourth quarter of FY21. Additionally, the quarterly EBITDA margin increased 600bps YoY to 46.9% with EBITDA of ₹ 8,573 crore. ” state the company.

The the average data consumption of a Jio user was 13.3 GB. Likewise, the average voice consumption was 823 minutes per minute. Additionally, the company witnessed a net user base expansion of 15.4 million in the quarter, with Jio’s total user base now at 426 million. You can read more about the company’s overall quarterly performance in the presentation to the right here.

“Jio has a highly engaged customer base of 426 million and remains committed to enhancing digital experiences not only for our existing customers, but also for all individuals, households, and businesses across the country. With its path-defining partnerships in recent years, Jio will continue to strive to make India a premier digital society. “ said Mukesh D. Ambani, President and CEO of Reliance Industries Limited.

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