Reliance Jio, the telecom arm of Reliance Industries Ltd (RIL), on Friday reported a net profit of Rs 3,615 crore for the third quarter ended December 31, 2021. In the corresponding quarter last year, the company posted a net profit of Rs 3,489 crore. CNBC-TV18 Polls had predicted a profit of Rs 3,451 crore for the quarter under review.
The average revenue per user or ARPU, however, has beaten expectations coming in at Rs 151.6 versus an expectation of Rs 143.60, as per our poll. The gross revenue for the quarter was Rs 24,176 crore, higher by 13.8 per cent (adjusted for Interconnect Usage Charges (IUC). The cash profit for the quarter was Rs 8,747 crore, a growth of 14.7 per cent.
India’s largest telecom operator has reported an EBITDA at Rs 9,514 crore versus an expectation of Rs 9,367.5 crore. The EBITDA margin comes at 49.2 per cent versus the poll reading of 48.5 per cent.
The third quarter of FY22 saw Reliance Jio’s subscriber base at 429.5 million with 10.2 million new customers. The total data traffic was 23.4 billion GB during the quarter; a 47.8 per cent growth YoY. Total voice traffic was 1.15 trillion minutes during the quarter; 17.9 per cent growth YoY.
JioPhone Next
Jio and Google announced the launch of JioPhone Next during the quarter. This is the most affordable smartphone anywhere in the world with an entry price of only Rs 1,999 and the rest paid via easy EMI over 18/24 months. A unique financing option like this is introduced for the first time for a device in this category, making it accessible for a much wider set of consumers, the company said.
Wireline Customers
The company now has over 5 million connected wireline customers and has been consistently enriching its FTTH product with new apps on STB, Society Centrex, 4K content on JioTV+, Home Secure, Home Automation, LiveTV and Gaming solutions.
5G Network
Data-driven network planning for Jio’s 5G network is underway based on targeted customer consumption and revenue using Heat maps, 3D maps, and Ray tracing technology for precise coverage planning to target high consumption and high perception locations.
5G coverage planning has been completed for 1,000 top cities across the country. Jio has been doing trials on advanced use cases across Healthcare and Industrial Automation on its 5G network.
NPCI
It has partnered with the National Payments Corporation of India (NPCI) for the UPI auto-debit facility for its customers. This will enable Jio customers to set standing instructions on the MyJio app using UPI Autopay for their preferred tariff plans and a seamless recharging experience.
Mukesh D. Ambani, chairman and managing director, Reliance Industries Ltd, said, “I am happy to announce that Reliance has posted best-ever quarterly performance in 3Q FY22 with strong contribution from all our businesses. Both our consumer businesses, Retail and Digital services have recorded highest ever revenues and EBITDA. During this quarter, we continued to focus on strategic investments and partnerships across our businesses to drive future growth.”
Retail business activity has normalized with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country. Our digital services business has delivered broad-based, sustainable, and profitable growth through improved customer engagement and subscriber mix.”
The results came after the close of the market hours. Shares of RIL ended at Rs 2,478.10, down by Rs 0.70, or 0.028 per cent on the BSE. The headline Nifty50 index ended 0.8 per cent lower at 17,617.2, extending losses for the fourth day in a row.
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Source: News18