Jio Platforms, a subsidiary of Reliance Industries on Thursday reported the financial results for the quarter ending June 30, 2020. Jio Platforms reported a net profit of Rs 2,250 crore, registering a 182.8% Y-o-Y growth in net profit.
Results at a Glance
- Operating revenue of Rs 16,557 crore in Q1 FY 21
- Net Profit of Rs 2,520 crore in Q1 FY 21
- ARPU at Rs 140.3 in Q1 FY 21
- 9.9 million new customers in Q1 FY 21
The standalone revenues from operations stood at Rs 16,557 crore, up from Rs 12,383 crore in the corresponding quarter last year seeing a 33.7% Y-o-Y growth. The net profit stood at Rs 2,520 crore in Q1 FY 21, up from Rs 891 crore in the corresponding quarter last year seeing a 182.8% Y-o-Y growth. Jio Platform’s EBIDTA stood at Rs 7,281 crore in the quarter, up from Rs 4,686 crore in the corresponding quarter last year seeing a 55.4% Y-o-Y growth.
Jio’s total customer base at the end of 30th June 2020 stood at 398.3 million, with a customer addition of 9.9 million during the quarter despite COVID-19 related impacts. The gross addition during the quarter was excess of 15 million during the quarter. The monthly churn stood at 0..46% during the quarter
Total wireless data traffic during the quarter at 1,420 crore GB seeing a 30.2% Y-o-Y growth, while the total voice traffic during the quarter stood at 88,944 crore minutes seeing a 13.2% Y-o-Y growth.
Commenting on the results, Shri Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “Jio started with a vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India. Thirteen investors, which include the largest technology companies and investors globally, now share a common vision with us. Jio Platforms Limited with partnerships across promising Indian start-ups and globally renowned technology companies is set to drive the next leg of hyper growth for digital businesses. Our growth strategy is aimed at meeting the needs of all the 1.3 billion Indians. We remain focused on playing a leading role India’s transformation into a Digital Society.”