Jio Platforms posted a 23.4% year-on-year (YoY) increase in its consolidated net profit to INR 6,539 Cr in Q2 FY25
Revenue from operations jumped 18% YoY to INR 31,709 Cr in Q2 FY25
Jio’s customer base stood at 47.88 Cr at the end of the September quarter, an increase of 4.2% from 45.97 Cr a year ago
Reliance Industries Ltd’s (RIL’s) digital giant Jio Platforms posted a 23.4% year-on-year (YoY) increase in its consolidated net profit to INR 6,539 Cr in the second quarter of the financial year 2024-25 (Q2 FY25).
On a sequential basis, net profit grew about 15% from INR 5,698 Cr in Q1 FY25.
Revenue from operations jumped 18% YoY to INR 31,709 Cr in Q2 FY25. On a sequential basis, operating revenue grew 7.6% from INR 29,449 Cr.
Jio Platforms, which housed telecom operator Reliance Jio, saw its Average Revenue Per User (ARPU) increase 7.4% YoY to INR 195.1 per month. The company said that the ARPU increase was a result of a partial follow through of tariff hike and a better subscriber mix. It expects the full impact of the tariff hike to flow through in the next 2-3 quarters.
It is pertinent to note that Jio hiked tariffs for prepaid and postpaid plans by 12% to 25% on July 3. With the increase in tariffs, the cost of its lowest plan increased 21% to INR 189 from the erstwhile INR 155.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 17.8% YoY to INR 15,931 Cr during the quarter, while EBITDA margin stood at 50.2%. The company said that the EBITDA growth was a derivative of the healthy increase in its revenue
Jio’s customer base stood at 47.88 Cr at the end of the September quarter, an increase of 4.2% from 45.97 Cr a year ago. However, the number declined over 2% on a sequential basis. Jio Platform’s total customers stood at 48.97 Cr at the end of Q1 FY25.
“Limited amount of SIM consolidation observed after the tariff hike, offsetting continued strength in gross addition in 2Q FY25; monthly churn increased to 2.8%,” the company said in a statement.
(This is a breaking story, will be updated soon.)
