Jio Platforms Limited (JPL) has announced its financial results for Q1 FY22.
The company has reported a consolidated net profit of Rs 36.51 billion, recording an Y-o-Y increase of 44.9 per cent over. Further, the operator’s consolidated revenue from operations, including access revenues stood at Rs 189.52 billion during the period under consideration. Moreover, the operator’s ARPU during the quarter stood at Rs 138.4 per subscriber per month. Further, Jio reported EBITDA margin at 46.9 per cent, an increase of 440 bps Y-o-Y reflecting operational efficiency and EBITDA stood at Rs 88.92 billion.
As far as total data and voice traffic during the quarter is concerned, it was 20.3 billion GB (38.5 per cent YoY growth) and 1.06 trillion minutes (19 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, “I am happy that our Company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the COVID pandemic. The results of the First Quarter of FY2022 clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket. In our O2C business, we generated strong earnings through our integrated portfolio and superior product placement capabilities. Along with our partner bp, we commissioned the satellite cluster in KG D6 and continued to ramp up production, contributing to 20% of gas production in India. This will be a major contribution to our country’s energy security. 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. They appreciate our continuing focus on raising the bar for superior service quality. COVID-related restrictions on store operations during the quarter impacted our Retail business operations and profitability. This is a temporary phenomenon. We remained focused on ensuring supplies of necessities, including food, grocery, health & hygiene products through a combination of online-offline channels. We stepped up our efforts in creating partnerships with small merchants and digital engagement with consumers. This is creating a newer and inclusive model of growth. I am confident that the retail business is poised to create exponential value and growth. I am most excited by the swift start to our new Clean and Green Energy business initiative. We have started investment across all verticals to execute our ambitious plans. We are also resolutely implementing our vision of net carbon zero before 2035, which is our highest priority. We remain committed to disciplined capital allocation with an emphasis on long-term value creation for our shareholders.”
