Jio Platforms books 20.7% increase in quarterly revenue

9 May 2022

Jio Platforms, the digital services wing of Indian conglomerate Reliance Industries Limited (RIL) and parent company of full-service provider Reliance Jio Infocomm (Jio), reported gross revenue of INR261 billion (USD3.4 billion) for the three months to end-March 2022 (its fiscal Q4), an increase of 20.7% year-on-year. EBITDA for the period, meanwhile, grew by 27.4% compared to the same period of last year to INR109 billion and net profit increased by 22.9% to INR43 billion.

Jio reported a net reduction in mobile subscriptions of around 10.9 million following a tariff increase in December last year but this was partly offset by growth in its fixed broadband business, with the operator claiming that it now provided services to more than six million premises via its fibre-to-the-home (FTTH) network. As a result of the greater proportion of FTTH accounts in its subscription base and the aforementioned tariff hike, ARPU grew to INR167.6. Average monthly data and voice consumption grew to 19.7GB and 968 minutes, respectively.

India, Reliance Jio Infocomm (Jio)