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Jio posts net profit of Rs 3,489 crore in Q3 2020

Its net profit grew 15.5 per cent quarter-on-quarter

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KOLKATA: Reliance Industry Limited’s (RIL) subsidiary Jio Platforms has posted net profit of Rs 3,489 crore. Its net profit grew 15.5 per cent quarter-on-quarter as its profit was Rs 3,020 crore in the last quarter.

The average revenue per user (ARPU) also grew during the quarter reaching to Rs 151 per subscriber per month compared to Rs 145 per subscriber per month in the September quarter Its consolidated EBITDA grew by 6.4 per cent quarter-on-quarter to Rs 8,483 crore and EBITDA margin of 43.6 per cent up from 43.1 per cent thanks to growing revenue and operating leverage.

 Reliance Jio's total customer base stands at 410.8 million as on 31 December 2020. “(There was) Higher churn during the quarter at 1.63 per cent due to continued impact of COVID and recent malicious and motivated campaigns against Reliance Group in select geographies,” the company said.

“India is today among the leaders driving the Digital Revolution in the world. In order to maintain this lead, Jio will continue to accelerate the rollout of its digital platforms and indigenously developed next generation 5G stack and make it affordable and available everywhere. Jio's 5G service will be a testimony to the vision of AtmaNirbhar Bharat,” RIL CMD Mukesh Ambani said.

During the third quarter, average data consumption per user per month was strong at 12.9 GB and average voice consumption was at 796 minutes per user per month. FTTH services witnessed increased uptake during the quarter on the back of unique offering and widespread network across the country

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