Reliance Jio Net Profit Rises 15.5% To Rs 3,489 Cr In Q3; ARPU Rises To Rs 151
Reliance Jio in an official release issued on Friday said that the total customer gross addition was robust at 25.1 million despite Covid related constraints and local issues.
A Reliance Industries subsidiary Reliance Jio reported a consolidated net profit of Rs 3,489 crore, a 15.5 per cent quarter-on-quarter increase, in the December quarter. ALSO READ | Delhi: IAA's Annual 'Retrospect and Prospects' Event On Jan 21, 7 PM Onward
The telecom firm in an official release issued on Friday said that the total customer gross addition was robust at 25.1 million despite Covid related constraints and local issues. Net subscriber addition of 40 million during CY20 is highest in the industry.
Meanwhile, the firm recorded higher churn during the quarter, i.e. 1.63 per cent due to continued impact of COVID and recent malicious and motivated campaigns against Reliance Group in select geographies. During 3Q FY21, average data consumption per user per month was strong at 12.9 GB and average voice consumption was at 796 minutes per user per month.
Jio’s average revenue per user (ARPU) – a key performance metric -- rose sequentially to Rs 151 from Rs 145 in the previous quarter, helped by a combination of last December’s tariff hikes and customer additions.
Commenting on the results, Chairman and Managing Director of Reliance Industries Limited, Mukesh Ambani 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."
ALSO READ | WhatsApp Policy Tweak: Government Tells Chat App To Withdraw 'Discriminatory' Policy For Indian Users
"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," Ambani added, as stated in the release.
Top Headlines
