Reliance Jio Profit Jumps 47% To Rs 3,508 Crore In March Quarter

Mukesh Ambani-owned Reliance Industries’ telecom arm Reliance Jio reported a 47 per cent jump in net profit at Rs 3,508 crore on a consolidated basis in the January-March quarter of the financial year 2020-21, compared to Rs 2,379 crore in the corresponding period last year. According to a regulatory filing by the company to the BSE on Friday, April 30, the Jio Platform’s revenue from operations stood at Rs 18,278 crore in the March quarter marking a growth of 18 per cent, compared to Rs 15,373 crore in the same period last year. (Also Read: Reliance Industries Profit More Than Doubles To ₹ 13,227 Crore In March Quarter )

Reliance Jio reported customer gross addition at 31.2 million (net addition of 15.4 million) in the March quarter of fiscal 2020-21, with improved traction across homes and mobility. The telecommunication arm reported gross subscriber addition of 99.3 million throughout the financial year 2020021, despite the COVID-related challenges. 

The average revenue per unit or ARPU during the fourth quarter of fiscal 2020-21 stood at Rs 138.2 per subscriber per month, compared to Rs 151 per subscriber per month in the previous quarter. According to the statement, the value of services for the year stood at Rs 86,493 crore. Despite the COVID-19 pandemic-related challenges, Relinace Jio closed its first full year of operations with earnings before interest, taxes, depreciation, and amortization or EBITDA of Rs 32,359 crore. 

Additionally, in the recently concluded Spectrum Auction 2021, Reliance Jio acquired spectrum in 800MHz, 1800MHz, and 2300MHz bands, and the total outlay is Rs 57,123 crore with an upfront payment of Rs 19,939 crore. Reliance Jio signed an agreement with Bharti Airtel Limited, for the trading of spectrum in the 800MHz band in Andhra Pradesh, Delhi, as well as Mumbai circles.

The aggregate value for the right-to-use of paired 7.5MHz spectrum is Rs 1,497 crore, inclusive of the current value of the associated deferred payment liability of Rs 459 crore, said the company. On Friday, April 30, shares of Reliance Industries traded 1.42 per cent lower at Rs 1,994.45 on the BSE.