Reliance Jio Infocomm Limited has released its unaudited standalone financial results for the quarter ended (QE) June 30, 2023. The company reported a net profit of Rs 48.63 billion during the reported quarter. Its revenue from operations rose to Rs 240.42 billion during the quarter compared with Rs 233.94 billion in the previous quarter.
The operator had 432.9 million users as of December 31, 2022, almost 3 per cent higher than a year ago. As per the company, average revenue per user (ARPU) increased sequentially to Rs 178.2 due to a better subscriber mix. Sustained subscriber additions and higher ARPU drove revenue and earnings before interest, taxes, depreciation, and amortisation (EBITDA) growth for the connectivity business. In addition, higher realisations from digital services drive consolidated revenue growth. EBITDA margin increased by 170 bps due to increased ARPU and benefit from lower spectrum usage charges.
The operator had 448.5 million users as of June 30, 2023, 6.8 per cent higher than a year ago. As per the company, average revenue per user (ARPU) increased 2.8 per cent year-on-year (YoY) sequentially to Rs 180.5 driven by better subscriber mix and ramp-up of wireline business.
Further, Jio has deployed over 115,000 sites with approximately 690,000 5G cells covering more than 90 per cent of census towns and is leading in terms of both network availability and customer experience as evaluated by third-party technology and consumer research companies.
Commenting on the results, Akash M Ambani, chairman, Reliance Jio Infocomm Limited, said, “Jio continues to make rapid progress in rolling out its True 5G network. Jio is on track to complete pan India 5G rollout before December 2023. The new JioBharat phone is another innovation by Jio combining network and device capabilities to help accelerate ‘2G-Mukt Bharat’ vision and democratise internet. With these investments, Jio is embarking on a journey to accelerate growth momentum across connectivity and digital platforms over the coming years.”
