For the December quarter, Reliance Jio, the telecom unit of Reliance Industries Ltd (RIL), reported a net profit of Rs 3,615 crore, up 10% year on year. In the previous year, it was 3,291 crore.
Revenue from operations increased by 5% to 19,347 crore, up from 18,492 crore the previous year.
CEO of Reliance Industries, Mukesh Ambani stated regarding Q3 FY22 outcome that, Revenues and EBITDA from digital services have reached new highs. They continued to focus on strategic investments and collaborations across our industries to fuel future growth throughout this quarter.
“Our digital services business has delivered broad based, sustainable, and profitable growth through improved customer engagement and subscriber mix,” he added.
Jio’s Financial Sum:
- For the quarter, Jio Platforms’ consolidated Gross Revenue was 24,176 crore ($3.3 billion), up 13.8 percent year on year (adjusted for IUC).
- For the quarter, Jio Platforms’ consolidated EBITDA was 10,008 crore ($ 1.3 billion), up 18.1 percent year on year.
- Jio Platforms’ EBITDA Margin grew 503 basis points to 48.6%. In the connectivity business, Y-o-Y growth was driven by IUC-related adjustments and an increase in ARPU.
- Jio Platforms’ quarterly net profit was $3,795 crore ($511 million), up 8.8% year on year.
- Jio’s total subscriber base was 421.0 million as of December 31, 2021, with a net addition of 10.2 million customers year over year.
- Gross subscriber additions continue to be strong, with 34.6 million overall gross adds in Q3FY22, driven by both mobility and FTTH businesses.
- Jio’s ARPU for the quarter was 151.6 per user per month, up 8.4 percent year on year, thanks to an improved subscriber mix and a recent rate boost (adjusted for IUC). Over the next few quarters, the full impact of a tariff hike will be reflected in ARPU and financials.
- Jio now has over 5 million wireline users and has been steadily improving its FTTH offering with new STB apps, Society Centrex content in 4K, Home Secure, Home Automation, LiveTV, and Gaming solutions.
- 5G coverage planning is complete for nearly 1,000 of the country’s most populous cities; Tls on for advanced use cases in healthcare and industrial automation on the 5G network.
Updates on Jio’s Business:
During the holiday season, an action-packed programming calendar drove an 11.0 percent viewership share for the TV entertainment network in the non-news sector. Brands raised their spending to take advantage of high consumer demand, resulting in a dramatic increase in TV advertising volumes. This growth helped the TV portfolio, which included both entertainment and news, and resulted in considerable growth in advertising income.
Releases to the Press:
- Network18’s digital news/information portfolio is the second-largest in India in terms of reach, reaching more than 250 million people per month, or more than half of India’s internet viewership. Consumer and advertiser adoption of digital has increased, which accelerated throughout the COVID phase, helping the Digital News business record another successful quarter.
- Subscription revenue fell somewhat due to a dip in international revenue, but domestic subscriptions remained consistent. The introduction of NTO 2.0 has been pushed back to the following fiscal year by the industry regulator.
- The network’s impact assets, Voot Original series, and sports streaming drove growth in Voot Select’s paid subscriber base throughout the quarter. It added the NBA to its portfolio, bolstering its reputation as a sports destination, in addition to major football leagues.
Final Words:
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