Technology

Jio Braves COVID-19 Challenges to Post 47.5 Percent Net Profit Jump in Q4

Reliance’s Jio Platforms Ltd (JPL) has recorded a 47.5 per cent year-on-year web revenue in the fourth quarter of the monetary yr 2021 to Rs 3,508 crores. The firm stated in an announcement that regardless of COVID associated challenges, JPL closed its first full yr of operations with income and EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortisation) of Rs 73,503 crores, and Rs 32,359 crores respectively.

This has been pushed by sturdy 45 per cent YoY EBITDA progress at RJIL on the again of continued subscriber traction and better common income per unit (ARPU).

“Quarterly JPL operating revenue was Rs 18,278 crores, sequential decline led by the transition to Bill and Keep regime and lower number of days during the quarter. Like-for-like growth in operating revenue was ~30 per cent YoY in Q4FY21,” the assertion stated.

“Also, quarterly EBITDA margin increased 600 bps YoY to 46.9 per cent with EBITDA at Rs 8,573 crores. Net profit in Q4FY21 for JPL increased 47.5 per cent YoY to Rs 3,508 crores (FY21 net profit at Rs 12,537 crore),” the assertion added.

The firm additionally recorded sturdy buyer gross addition at 31.2 million (web addition of 15.4 million) in the quarter with improved traction throughout mobility and houses. “Gross subscriber addition of 99.3 million during FY21 despite Covid related challenges,” the assertion stated.

It additional stated that the typical income per unit for Q4FY21 was Rs 138.2, with sequential decline pushed by transition from Interconnect Usage Charges (IUC) to Bill & Keep regime efficient January 1, 2021, and decrease variety of days throughout the quarter.

Commenting on the outcomes, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries, stated: “Jio has a highly engaged 426 million customer base and remains committed to enhancing digital experiences not only for our existing customers but, for all individuals, households, and enterprises across the country. With its path-defining partnerships over the last couple of years, Jio will continue to strive towards making India a premier digital society.”


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