Jio Infocomm, the telecom division of Reliance Industries, on Friday posted Q2 profit at Rs 5,058 crore, up 12 per cent on-year in comparison to Rs 4,518 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 24,750 crore, up 9.9 per cent as against Rs 22,521 crore during the same period last year. The company EBITDA stood at Rs 12,953 crore. “Strong subscriber growth across mobility and wireline services and scale up of digital services platform drove JPL consolidated revenue and EBITDA growth,” the company said in a regulatory filing.
While the total income during the quarter in review was at Rs 24,856 crore, total expenditure incurred during the period was at Rs 18,063 crore. The operating margin of the company improved by 10 basis points year on-year to 26.4 per cent and its profit margin rose 40 basis points to 17.40 per cent. The company said that the operating revenue (net of GST) growth was driven by industry leading subscriber growth across mobility and homes and scale-up of digital platforms. Depreciation, it added, increased due to higher network utilisation and incremental addition to gross block.
The company reported a total subscriber base of 459.7 million, up from 448.5 million in the first quarter of FY24. It added 11.2 million subscribers (net), as against 9.2 million in the first quarter of the fiscal. The average revenue per user (ARPU) came in at Rs 181.70, up from Rs 180.50 reported in the previous quarter. “ARPU increased 2.5 per cent YoY to Rs 181.7 driven by better subscriber mix across mobility and wireline partially offset by the start of 5G services,” it said.
Engagement on the Jio network, it added, remained strong with an addition of over 3 Exabytes of data traffic for the second successive quarter in 2Q FY24. Total data and voice traffic increased 28.5 per cent and 8.3 per cent YoY, respectively.
Jio has deployed over 1 million 5G cells pan-India with coverage across ~8,000 cities/ towns. “Jio has contributed to 85 per cent of the overall 5G capacity in the country till date. This has been powered by a 100 per cent in-house 5G stack, designed, developed and manufactured entirely by Indian talent,’ it said.
Earlier last month, Reliance Jio had launched JioAirFiber services across eight metro cities — Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune, with pan-India coverage expected in coming months.
“Jio True5G will soon be available pan-India to usher in a new digital era for Indians. JioAirFiber has seen very strong customer interest and is set to transform broadband infrastructure in the country by offering fiber-like digital experience to homes and small enterprises. Ubiquitous 5G, JioBharat and JioAirFiber are three big growth engines for Jio which would accelerate market share gains and profitability,” said Akash Ambani, Chairman of Reliance Jio Infocomm.
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