Reliance Jio Q1 Results: Net Profit Increases By 44.9% To Rs. 3,651 Crores

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High data consumption and new users helped Reliance Jio to increase its profit by 44.9 percent in Q1 of this financial year. Reliance Jio reported a net profit of Rs. 3,651 crores, which is higher than the Q4 FY21 as telco managed to get Rs. 3,510 crores during the same period.

 
Jio Q1 Results: Net Profit Increases By 44.9% To Rs. 3,651 Crores

Reliance Jio Average Revenue Per User In Q1 FY22

Besides, the telecom operator highlighted that its APRU increased to Rs. 138.4 from Rs. 138.2 in the previous quarter. In addition, the company said that its revenue increased by Rs. 18,952 crores from Rs. 18,278 crores in Q4 (January-March quarter).

"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," Mukesh D. Ambani, Chairman, Reliance Industries.

Reliance established Jio Platforms Limited in 2019 and it is owned by Reliance Jio, which is the largest telecom operator in India. Notably, JPL added 14.4 user addition, whereas Jio offering its telecom services to 440.6 million users.

Analysts Views On Reliance Jio Performance

"Reliance Jio's healthy customer adds is largely driven by the strong take-up of its recent aggressive offers around its 4G feature phone, but ARPU growth is sluggish due to the higher contribution of these low-end JioPhone users," Mayuresh Joshi, head of equity research at the Indian unit of US equity research firm William O' Neil & Co said.

Meanwhile, Joshi added that Reliance Jio is grabbing Vodafone-Idea 2G customers and it is competing with India's second-largest telecom operator Airtel. Meanwhile, Reliance Jio said that wireless data consumption per user month has been increased to 15.6GB from 13.2GB in Q4 of the last financial year.

 

Apart from that, Reliance Jio said that the average voice consumption decrease to 818 minutes per user from the 823 minutes. It is worth noting that Reliance Jio is all set to launch a new 4G smartphone in September, which is expected to be ultra-affordable and likely to help Jio to get more users in the coming months.
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