Jio books net profit of INR43.4bn

26 Jul 2022

Reliance Jio Infocomm (Jio), India’s largest mobile and fixed broadband provider by subscriptions, has reported its financial results for the three months to end-June 2022, booking total revenues of INR219.6 billion (USD2.75 billion), up from INR180.1 billion in the same period of 2021. Total expenses grew by a similar amount over that period to reach INR161.4 billion from INR133.1 billion – driven by rises in network operating expenses (up 14.5% year-on-year to INR68.4 billion) and depreciation and amortisation. Net profit nevertheless rose by 24.0% y-o-y to INR43.4 billion. Jio’s parent company Jio Platforms, which encompasses all the digital services wing of Indian conglomerate Reliance Industries Limited (RIL), reported a total customer base of 419.9 million as at 30 June 2022. ARPU continued to improve, growing by 27.0% y-o-y (and 4.8% quarter-on-quarter) to INR175.7, aided by continued growth of fixed broadband subscriptions and SIM consolidation. Total voice and data traffic for the period stood at 1.25 trillion minutes (+17.2% y-o-y) and 25.9 billion GB (up 27.2%), respectively, with average monthly usage rising to 1,001 minutes and 20.8GB.

India, Reliance Jio Infocomm (Jio)