INSUBCONTINENT EXCLUSIVE:
Reliance Jio, on Monday reported a sharp 23.4 per cent year-on-year (Y-o-Y) increase in net profit to Rs 6,539 crore for the second quarter
Its bottom line was boosted due to higher telecom tariffs imposed in early July
On a sequential basis, the holding company for Jio and other digital businesses of the Reliance group, saw its net profit grow 14.7 per
cent.
In Q2, Jio's Y-o-Y net profit growth gathered pace compared to 11.7 per cent and 12 per cent increase in the previous two quarters
As a result, the telecom firm's average revenue per user (Arpu) in Q2 rose to Rs 191.5, after remaining unchanged at Rs 181.7 for four
Calculated yearly, Arpu was higher by 7.4 per cent in Q2
The company said a partial follow-through of the tariff hike and a better subscriber mix ensured this
the revenue from operations grew 18 per cent Y-o-Y to Rs 31,709 crore
Revenue had grown by 12.8 per cent in the preceding quarter
The operating revenue growth was primarily driven by partial impact of tariff hike and scale-up of home and digital services businesses, the
wireless data traffic, up from 31 per cent and 28 per cent, respectively, in the preceding quarters
The telecom giant stressed its 5G users now represented the largest 5G subscriber base for any telecom operator outside China.
However,
Jio Platforms lost 10.9 million subscribers during the latest quarter, after 7 straight quarters of gaining users
It had 478.8 million subscribers at Q2-end, down from 489.7 million at end of Q1
The company admitted a limited amount of SIM consolidation has been observed after the tariff hike, offsetting continued strength in gross
addition in Q2, while the monthly churn increased to 2.8 per cent.
However, even before the tariff hike came into effect, Jio's subscriber
additions had been waning
It had gained 7.9 million, 10.9 million, and 11 million subscribers in the preceding three quarters.
Engagement on the network remained
has become the largest operator globally in terms of data traffic
Per capita data consumption by Jio users rose to 31 GBs per month, or more than 1 GB/day.
Jio announced it was now the fastest-growing
fixed wireless operator globally with over 2.8 million JioAirfiber connections
Launched initially in 8 cities in September last year, JioAirFiber is now available in over 5,900 cities
innovation to create customer and shareholder value
