Reliance Jio Infocomm Ltd. grew sequentially in the June quarter as its earnings from each user improved amid a wider churn in the industry.
Revenue of India's largest telecom operator by subscriber base rose 2.76% over the previous three months to Rs 24,042 crore in the quarter ended June 30, according to an exchange filing on Friday.
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The average revenue per user improved 2.8% year-on-year to an all-time of Rs 180.5 due to a better subscriber mix and ramp-up of wireline business, according to a company statement.
Reliance Jio Q4 Results: Key Highlights (QoQ)
Revenue up 2.76% at Rs 24,042 crore
Ebitda rises 3.01% to Rs 12,210 crore
Ebitda margin at 52.31% vs. 52.19%
Net profit up 3.11% at Rs 4,863 crore
Net profit of the holding company, Jio Platforms Ltd., rose 12.5% year-on-year to Rs 5,098 crore in the April-June quarter on the back of revenue that increased 11.3% on an annual basis to Rs 30,640 crore. The company's operational profitability improved 14.8% over the year ago to Rs 13,116 crore in the first quarter.
"Jio's wide range of quality offerings at affordable price points has enabled strong growth in subscriber base, which reflects in financial performance of the digital services business," Mukesh Ambani, chairman and managing director at parent company Reliance Industries Ltd., said in a statement.
"Speedy rollout of of Jio's True 5G services is propelling the nation's digital transformation at an unprecedented pace."
Other Key Highlights
Net additions in the April-June quarter stood at 9.2 million, with per capita data consumption of 25 GB. Monthly churn reduced to 1.8%.
Jio's total data traffic jumped 28.3% year-on-year to 33.2 billion GB in Q1 FY24. Voice traffic rose 7.2% to 1.34 trillion minutes.
Jio has deployed over 115,000 sites with nearly 690,000 5G cells covering more than 90% census towns.
5G adoption and fiber-to-the-home, or FTTH, drives 28.3% year-on-year growth in data usage. Monthly data usage on Jio network crosses 11 exabytes. One exabyte is equivalent to 1 billion GB.
Jio Fiber is driving nearly 80% of wired broadband net additions in the country. The number of connected premises is fast approaching the 10-million mark.
On Friday, shares of its parent company, Reliance Industries Ltd., fell 2.57% to Rs 2,536.20 apiece on the BSE, even as the benchmark Sensex ended the day 1.31% lower at 66,684.26 points.
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