Jio Q1 results: Jio Platforms Q1 results: Net profit rises 45% YoY to Rs 3,651 cr; Arpu flat at Rs 138.4

Mumbai: Jio Platforms’ (JPL) net profit rose 45 per cent on year in the April-June quarter, on the back of a 10 per cent rise in revenue, driven by strong mobile phone subscriber additions and higher data consumption.

For the fiscal first quarter, JPL’s net profit stood at Rs 3,651 crore compared with Rs 3510 crore at March-end and Rs 2,519 crore a year ago.

JPL’s quarterly revenue rose to Rs 18,952 crore from Rs18,278 crore in the January-March period and Rs 17,254 crore a year ago.

The average revenue per user (ARPU) – a key performance parameter – for the telecom business grew sequentially to Rs138.4 from Rs138.2 in the previous quarter.

Net subscriber additions for Jio continued to be strong, adding 14.4 million in the just-ended quarter. Jio ended the April-June period with 440.6 million users, the company said in a statement Friday.

“Jio has posted yet another record quarterly performance with industry-leading operating metrics. I am thankful to Jio’s family of loyal subscribers whose number has grown further during the quarter, consolidating its position as India’s No. 1 provider of digital connectivity and services,” Mukesh D. Ambani, Chairman, Reliance Industries Ltd. said in the statement.

JPL, established in October 2019 as a wholly-owned unit of Reliance, houses the Mukesh Ambani-owned group’s telecom business Reliance Jio Infocomm, the largest in the country, and other digital properties and investments. Jio though makes up the bulk of JPL’s numbers.