Reliance Jio Q2 Results: Net Profit Rises, ARPU At All Time High
Reliance Jio's Q2 profit rose 4% sequentially.
Reliance Jio Infocomm Ltd.’s second-quarter profit rose, and its average revenue per user inched to an all-time high.
Net profit of the Reliance Industries Ltd.-owned telecom operator increased 4% sequentially to Rs 4,518 crore in the quarter ended September, according to a statement.
Reliance Jio Q2 FY23 Highlights (QoQ)
Revenue rose 3% to Rs 22,521 crore.
Operating profit increased 5% to Rs 11,489 crore.
Ebitda margin expanded to 51% from 50.13% as of June.
Average revenue per user of the nation’s largest carrier by active subscribers rose to Rs 177.2 a month—an all-time high. That compares with Rs 175.7 in the preceding three months and the forecast of Rs 181.
The improvement in ARPU—the amount an operator earns per subscriber per month—came on the back of a better mix of subscribers and tariff hikes.
Jio net added 77 lakh subscribers in the quarter ended September. Reliance Jio’s total customer base stood at 42.6 crore as of September compared with 41.9 crore as of June.
It saw a rise in net customers during the quarter on account of SIM card consolidation as low-paying customers continued to drop off on higher plan prices. The telecom operator lost customers in the previous three quarters.
The telecom operator's average data and voice consumption per user per month increased to 22.2 GB and 969 minutes, respectively. Total data traffic was 22.7% up at 2,820 crore GB, and total voice traffic rose 12.3% at 1,23,000 crore minutes.