Reliance Jio Q3 Results: Net Profit Rises 3%, ARPU At All-Time High
Reliance Jio Infocomm's revenue rose 2% to Rs 22,998 crore in Q3.
Reliance Jio Infocomm Ltd.'s third quarter revenue rose and its average revenue per user inched up to an all-time high.
Net profit of the Reliance Industries Ltd.-owned telecom operator increased 3% sequentially to Rs 4,638 crore in the quarter ended December, according to a statement.
Reliance Jio Q3 FY23 Highlights (QoQ)
Revenue rose 2% to Rs 22,998 crore.
Operating profit increased 5% to Rs 12,009 crore.
Ebitda margin expanded to 52% from 51%, as of September.
Average revenue per user of the nation’s largest carrier by active subscribers rose to Rs 178.2 a month—an all-time high. That compares with Rs 177.2 in the preceding three months and the forecast of Rs 180.
The improvement in ARPU—the amount an operator earns per subscriber per month—came on the back of a better mix of subscribers.
Jio net added 69 lakh subscribers in the quarter ended December. Reliance Jio’s total customer base stood at 43.29 crore, as of December, compared with 42.6 crore as of September.
It saw a rise in net customers during the quarter on account of SIM card consolidation, even as low-paying customers continued to drop off on higher plan prices. The telecom operator lost customers in the previous three quarters.
Total data traffic was 3% up at 2,900 crore GB, and total voice traffic rose 3% to 1,27,000 crore minutes.