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Jio’s Q3FY21 results show a net profit increase of 15.5% QoQ


Consolidated Financials (₹ crore) 3Q’ 20-21 2Q’ 20-21 QoQ Growth
Value of Services 22,858 21,708 5.3%
Revenue from Operations 19,475 18,496 5.3%
EBITDA 8,483 7,971 6.4%
EBITDA margin 43.6% 43.1% 46bps
EBIT 5,531 5,061 9.3%
Net Profit 3,489 3,020 15.5%
  • Consolidated revenue from operations, including access revenues, of ₹ 19,475 crore
  • Consolidated Net Profit of ₹ 3,489 crore, increase of 15.5% over previous quarter
  • Total Customer base as on 31 st December 2020 of 410.8 million
  • ARPU during the quarter of ₹ 151.0 per subscriber per month
  • Total data traffic during the quarter of 1,586 crore GB (28.4% YoY growth)
  • Total voice traffic during the quarter of 97,496 crore minutes (18.0% YoY growth)

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited 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.

Jio is determined to make India 2G-mukt, thereby empowering every Indian to have an affordable smartphone and be a part of digital and data revolution. We invite and encourage all stakeholders to work together to make world-class digital services available to every Indian consumer at the most affordable prices.

Jio Platforms Limited – Building Digital Society for India

  • Total customer gross addition was robust at 25.1 million despite Covid related constraints and local issues. Net subscriber addition of 40 million during CY20 is highest in the industry.
  • Higher churn during the quarter at 1.63% due to continued impact of COVID and recent malicious and motivated campaigns against Reliance Group in select geographies.
  • Jio honoured its commitment and made all domestic voice calls absolutely free from 1st January 2021. Jio had earlier assured its users that the charge for offnet outgoing calls would continue only till the time TRAI abolished IUC charges.
  • During 3Q FY21, 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. In a short period of time, Jio FTTH services have become the lifeline for millions of customers

Digital Platforms

  • Indigenously developed 5G Radio integrated with Jio’s 5G Core Network and 5G Smartphones have achieved over the air throughputs in excess of 1 Gbps. In-house Massive MIMO and indoor 5G small cell are under advanced stages of development.
  • JioMeet crossed 15 million users during the quarter. JioMeet is now evolving as a complete platform with solutions for different segments like large enterprises, healthcare industry, educational and government institutions.
  • Jio’s bundled broadband offering for SMBs has had an encouraging response. A widescale commercial deployment will see Jio offering unique solutions across Connectivity, Communication, Conferencing, Productivity, Marketing, Infotainment and Devices. The addressable market will be significantly expanded with these digital solutions and ubiquitous fibre presence.
  • Besides deploying IoT solutions for Jio Home users, the Jio pan India IoT network is operational for application in connected vehicles, smart metering, connected assets and hospitality.

Update on Investments into JPL

  • During the quarter Jio completed the Google transaction post requisite regulatory approvals for an investment of ₹ 33,737 crore into JPL for 7.73% stake. With this the entire amount of ₹ 152,056 crore has been received by the Company.

Financial performance of JPL

  • JPL has achieved a milestone this quarter with annualised operating revenue run-rate of US$10 billion with strong Revenue and EBITDA growth.
  • Quarterly operating revenue increased 5.3% QoQ to ₹ 19,475 crore with EBITDA margin of 43.6%.
  • 9M FY21 Operating Revenue and EBITDA stand at ₹ 55,225 crore and ₹ 23,786 crore, respectively.
  • Net profit increased 15.5% QoQ to ₹ 3,489 crore (9M FY21 net profit ₹ 9,029 crore).

CT Bureau

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