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What is the story about?
Reliance Industries Ltd's (RIL) telecom arm, Jio Platforms Ltd added nearly 9 million subscribers in the December quarter, taking its total user base to 515.3 million, as higher data consumption and steady upgrades to premium plans pushed average revenue per user (ARPU) to ₹213.7, up 5.1% year-on-year. The numbers underscore continued monetisation gains in India’s largest digital network.
Jio's 5G subscribers crossed 250 million, now accounting for more than half of wireless data traffic, while the fixed broadband base expanded to 25.3 million connections, the company said in a filing.
JioAirFiber became the first fixed wireless access (FWA) service globally to surpass 10 million subscribers, ending the quarter with 11.5 million users. Total data traffic jumped 34% YoY to over 62 exabytes, with per-capita usage at 40.7 GB per month.
Read more: Reliance Retail revenue rises to ₹97,912 crore, up 8%
Commenting on "robust" financial performance, Mukesh D Ambani, Chairman and Managing Director, RIL said, "Jio’s digital ecosysytem is deepening its roots in Indian households. Through our mobility and broadband products, we are connecting mobile phones, homes, appliances and enterprises.
He said, “This quarter, Jio expanded its subscriber base further, through attractive propositions enabled by its comprehensive, indigenous technology stack tailored for Indian markets,” and added that customer engagement expanded “meaningfully,” driven by the “synergistic value” delivered by the company’s media platforms.
On the financial front, revenue rose 12.7% YoY to ₹43,683 crore, driven by subscriber growth, higher ARPU and scale-up of digital services. EBITDA increased 16.4% to ₹19,303 crore, with margins expanding 170 basis points to 51.8%, reflecting operating leverage. Net profit grew 11.3% YoY to ₹7,629 crore during the quarter, aided by strong revenue momentum and margin expansion.
Commenting on results, Centrum Broking’s Piyush Pandey said, “The concern has been muted growth in ARPUs. We expect that the company will be taking some price hike by the end of this quarter, or maybe even in one or two quarters. That remains the key concern for Jio, how they want drive the ARPU growth. Bharti Airtel has been more successful in driving ARPU increase quarter on quarter. But for Jio except tariff increase ARPU increase has been very muted if you see for last several quarters.”
Read more: RIL Q3 Results: O2C biz posts 8.4% revenue growth on higher fuel realisations
For the nine-month period, profit stood at ₹22,114 crore, up from ₹19,086 crore a year earlier.
At the group’s digital media arm JioStar, revenue for the quarter stood at ₹8,010 crore, with EBITDA of ₹1,303 crore. The platform averaged 450 million monthly active users, while its television network strengthened its leadership position with a 34.6% entertainment viewership share, underlining the growing scale of Reliance’s integrated digital and media ecosystem under Reliance Industries Ltd.
RIL's consolidated net profit came in at ₹18,645 crore, up from ₹18,165 crore in the previous quarter and ₹18,540 crore a year earlier. Revenue increased to ₹2.65 lakh crore from ₹2.55 lakh crore in the prior quarter and ₹2.40 lakh crore last year, while EBITDA rose to ₹46,018 crore from ₹45,885 crore and ₹43,789 crore, even as the EBITDA margin softened to 17.4% from 18% and 18.3%.
Shares of the company closed 0.15% higher at ₹1,461 ahead of result announcement on Friday. The stock has dropped 5.27% in the last one month.
Jio's 5G subscribers crossed 250 million, now accounting for more than half of wireless data traffic, while the fixed broadband base expanded to 25.3 million connections, the company said in a filing.
JioAirFiber became the first fixed wireless access (FWA) service globally to surpass 10 million subscribers, ending the quarter with 11.5 million users. Total data traffic jumped 34% YoY to over 62 exabytes, with per-capita usage at 40.7 GB per month.
Read more: Reliance Retail revenue rises to ₹97,912 crore, up 8%
Commenting on "robust" financial performance, Mukesh D Ambani, Chairman and Managing Director, RIL said, "Jio’s digital ecosysytem is deepening its roots in Indian households. Through our mobility and broadband products, we are connecting mobile phones, homes, appliances and enterprises.
He said, “This quarter, Jio expanded its subscriber base further, through attractive propositions enabled by its comprehensive, indigenous technology stack tailored for Indian markets,” and added that customer engagement expanded “meaningfully,” driven by the “synergistic value” delivered by the company’s media platforms.
On the financial front, revenue rose 12.7% YoY to ₹43,683 crore, driven by subscriber growth, higher ARPU and scale-up of digital services. EBITDA increased 16.4% to ₹19,303 crore, with margins expanding 170 basis points to 51.8%, reflecting operating leverage. Net profit grew 11.3% YoY to ₹7,629 crore during the quarter, aided by strong revenue momentum and margin expansion.
Commenting on results, Centrum Broking’s Piyush Pandey said, “The concern has been muted growth in ARPUs. We expect that the company will be taking some price hike by the end of this quarter, or maybe even in one or two quarters. That remains the key concern for Jio, how they want drive the ARPU growth. Bharti Airtel has been more successful in driving ARPU increase quarter on quarter. But for Jio except tariff increase ARPU increase has been very muted if you see for last several quarters.”
Read more: RIL Q3 Results: O2C biz posts 8.4% revenue growth on higher fuel realisations
For the nine-month period, profit stood at ₹22,114 crore, up from ₹19,086 crore a year earlier.
At the group’s digital media arm JioStar, revenue for the quarter stood at ₹8,010 crore, with EBITDA of ₹1,303 crore. The platform averaged 450 million monthly active users, while its television network strengthened its leadership position with a 34.6% entertainment viewership share, underlining the growing scale of Reliance’s integrated digital and media ecosystem under Reliance Industries Ltd.
RIL's consolidated net profit came in at ₹18,645 crore, up from ₹18,165 crore in the previous quarter and ₹18,540 crore a year earlier. Revenue increased to ₹2.65 lakh crore from ₹2.55 lakh crore in the prior quarter and ₹2.40 lakh crore last year, while EBITDA rose to ₹46,018 crore from ₹45,885 crore and ₹43,789 crore, even as the EBITDA margin softened to 17.4% from 18% and 18.3%.
Shares of the company closed 0.15% higher at ₹1,461 ahead of result announcement on Friday. The stock has dropped 5.27% in the last one month.
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