Jio Platforms reports consolidated net profit of Rs 34.89 billion during Q3 FY21

Jio Platforms Limited (JPL) has announced its financial results for Q3 FY21. The company has reported a consolidated net profit of Rs 34.89 billion, recording an increase of 15.5 per cent over previous quarter. Further, the operator’s consolidated revenue from operations, including access revenues stood at Rs 194.75 billion during the period under consideration. Moreover, the operator’s ARPU during the quarter stood at Rs 151 per subscriber per month.

Further, JPL has achieved annualised operating revenue run-rate of $10 billion with strong revenue and EBITDA growth. Quarterly operating revenue increased by 5.3 per cent QoQ to Rs 194.75 billion with EBITDA margin of 43.6 per cent. Meanwhile, the operator’s 9M FY21 operating revenue and EBITDA stood at Rs 552.25 billion and Rs 237.86 billion, respectively.

JPL’s net profit increased by 15.5 per cent QoQ to Rs 34.89 billion (9M FY21 net profit stood at Rs 90.29 billion).

As far as total data and voice traffic during the quarter is concerned, it was 15.86 billion GB (28.4 per cent YoY growth) and 974.96 billion minutes (18 per cent YoY growth), respectively.

Moreover, during the quarter Jio completed the Google transaction post requisite regulatory approvals for an investment of Rs 337.37 billion into JPL for 7.73 per cent stake. With this the entire amount of Rs 152.05 trillion has been received by the company.

Commenting on the results, Mukesh D. Ambani, chairman and managing director, Reliance Industries Limited, said, “India is today among the leaders driving the Digital Revolution in the world. In order to maintain this lead, Jio will continue to accelerate the rollout of its digital platforms and indigenously developed next generation 5G stack and make it affordable and available everywhere. Jio’s 5G service will be a testimony to the vision of AtmaNirbhar Bharat. Jio is determined to make India 2G-mukt, thereby empowering every Indian to have an affordable smartphone and be a part of digital and data revolution. We invite and encourage all stakeholders to work together to make world-class digital services available to every Indian consumer at the most affordable prices.”