Jio Platforms Ltd. reported an 8% quarter-on-quarter increase in consolidated net profit for the September quarter, supported by growth in revenue and operating earnings, while its EBITDA margin also improved.
The company's net profit rose to Rs 8,389 crore in Q2 from Rs 7,765 crore in the preceding June quarter. Revenue from operations increased 3.3% sequentially to Rs 40,475 crore, compared with Rs 39,173 crore in the previous quarter, reflecting continued growth in the company's business operations.
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Operating performance also remained strong during the quarter. Earnings before interest, taxes, depreciation and amortisation (EBITDA) climbed 5.3% to Rs 20,901 crore from Rs 19,840 crore in Q1.
Jio Platforms' EBITDA margin expanded to 51.6% in the September quarter, compared with 50.6% in the preceding quarter, indicating an improvement in operating profitability.
Reliance Jio's customer base rose to 54.2 crore in the quarter, compared with 53.3 crore in the previous quarter. Its average revenue per user (ARPU) increased to Rs 218.8 from Rs 215.6 in the preceding quarter.
(This is a developing story)
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