Reliance Jio Q3 net profit rises 15.5% to Rs 3,489 crore

New Delhi, January 22

Jio Platforms recorded 15.5 per cent quarter-on-quarter growth in net profit to Rs 3,489 crore for October-December 2020, its parent firm Reliance Industries Limited said on Friday.

Jio Platforms, which provides digital and telecom services, had posted a net profit of Rs 3,020 crore in the previous quarter.

The revenue of the company stood at Rs 22,858 crore in the October-December 2020 period.

“JPL has achieved a milestone this quarter with annualised revenue run-rate in excess of USD 10 billion (about Rs 7,300 crore) with strong revenue and EBITDA growth,” RIL said in a statement.

Reliance Jio Infocomm posted a 45.7 per cent increase in operating profit or EBIDTA to Rs 8,166 crore, compared to Rs 5,601 crore in the same quarter of 2019-20.

The operating revenue of RJIL grew 32.4 per cent on a year-on-year basis to Rs 18,492 crore in the quarter ended December 2020 as against Rs 13,968 crore.

Jio Platforms reported a total customer base of 41 crore as of December 31, 2020.

The company recorded its lowest subscriber addition in a quarter since the commencement of its mobile services.

“Net additions (of subscribers) were 5.2 million. It was on account of COVID and local issues that we faced, but those are now getting better,” Reliance Jio head of strategy Anshuman Thakur said.

He said that the upcoming spectrum auction will help the company in building up capacity and maintaining the networks.

RJIL network recorded data consumption of 12.9 gigabytes per person and 796 minutes of voice usage per month.

The company recorded monthly average revenue per user of Rs 151 as against Rs 145 in the trailing quarter. — PTI