Jio Platforms net profit rises 8.8% to Rs 3,795 crore in December quarter
Gross revenue from operations increased by 5.76 per to Rs 24,176 crore from Rs 22,858 crore in the October-December 2020 period
New Delhi: Jio Platforms on Friday posted an 8.8 per cent increase in net profit at Rs 3,795 crore for the third quarter ended December 2021.
The company had posted a net profit of Rs 3,486 crore in the same period a year ago.
Gross revenue from operations increased by 5.76 per to Rs 24,176 crore from Rs 22,858 crore in the October-December 2020 period.
Reliance Jio (RJIL), the telecom services arm of Jio Platforms, posted a 9.8 per cent rise in net profit at Rs 3,615 crore for the quarter, compared to Rs 3,291 crore in the year-ago period.
RJIL's revenue from operations increased 4.62 per cent to Rs 19,347 crore from Rs 18,492 crore earlier.
Jio said planning for a data-driven 5G network is underway. It will be based on targeted customer consumption and revenue using Heat maps, 3D maps and Ray tracing technology for precise coverage planning to target high consumption and high perception locations.
"5G coverage planning has been completed for 1,000 top cities across the country. Jio has been doing trials on advanced use cases across Healthcare and Industrial Automation on its 5G network," Jio Platforms said.
The company said it has partnered with WhatsApp to simplify prepaid recharge experience, bringing unprecedented convenience to consumers.
Total customer base of Jio Platforms stood at 42.1 crore at the end of December 2021, compared to about 41 crore a year ago.
Jio Platforms further said its average revenue per user (ARPU) increased by 8.4 per cent to Rs 151.6 on a year-on-year basis.
"ARPU improves to Rs 151.6 led by better subscriber mix and recent tariff hike. Full impact of tariff hike to be reflected in ARPU and financials over the next few quarters," Jio Platforms said.
At interbank foreign exchange market, rupee opened lower at 77.57 and later hit the day's low of 77.61 as the dollar rebounded in global markets following hawkish comments from US Federal Reserve chief Jerome Powell
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