Reliance Jio’s Q3 net profit rose 10% to ₹3,615 crore | Techno Glob

Reliance Jio, the telecom arm of Reliance Industries Ltd (RIL), reported a 10% year-on-year increase in net profit. 3,615 million in the December quarter. it was 3,291 million during the last year.

Operating income increased by 5% 19.347 million against 18,492 million during the last year.

Digital Services recorded the highest revenue and EBITDA. During the quarter, we continued to focus on strategic investments and partnerships in our business to drive future growth, said Reliance Industries CEO Mukesh Ambani.

“Our digital services business has delivered broad-based, sustainable and profitable growth through improved customer engagement and subscriber mix,” he added.

The company’s EBITDA (earnings before interest, tax, depreciation and amortization) 10,008 crores, which is 18% higher than last year and thus the quarterly EBITDA passed 10,000 million for the first time.

Average revenue per user (ARPU) improved in the quarter 151.6 per subscriber per month, which is due to the mix of subscribers and recent rate hikes. it was 143.6 in the September quarter.

“The full impact of the tariff hike will be reflected in ARPU and financials over the next few quarters,” Jio said.

The total customer base was 42.1 million as of December 31, 2021, with a net addition of 1 million customers during the quarter.

Jio said it retained the top position in the 4G speed chart with a download speed of 22.0 Mbps in December 2021, according to data released by the Telecom Regulatory Authority of India (TRAI).

“Jio now has more than 5 million connected wired customers and is enriching its FTTH product with new applications in STB, Society Centrex, 4K content on JioTV+, Home Secure, Home Automation, LiveTV and Gaming solutions,” the company said.

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