Jio Platforms Q1FY25: Profit rises 11.7% to Rs 5,698 cr; subscriber base grows by 8 million
Mumbai: Jio Platforms Ltd, the digital services arm of India’s largest conglomerate and parent company of Reliance Jio Infocomm Ltd, reported an 11.7% increase in quarterly profit to Rs 5,698 crore compared to the previous year.
The company’s revenue from operations rose by 12.8% to Rs 29,449 crore in the June quarter, up from Rs 26,115 crore a year earlier, driven by strong gains in mobility and home services.
EBITDA increased 11.6% to Rs 14,638 crore in the June quarter, compared to Rs 13,116 crore a year ago. However, finance costs rose by 13.5% to Rs 1,115 crore due to higher leverage.
Reliance Jio Infocomm, India’s largest telecom operator by users, reported a quarterly profit of Rs 5,445 crore, up 12% from Rs 4,863 crore in the same quarter last year.
Jio’s ARPU increased by 0.7% to Rs 181.7, supported by a favorable subscriber mix, though it was partially offset by a higher share of promotional 5G traffic.
The company continued to lead the industry with 8 million net subscriber additions in the fiscal first quarter, bringing its total subscriber base to 489.7 million, a 9.2% increase from a year earlier. Jio’s monthly churn rate was 1.7%.
Customer engagement remained robust, with total data traffic increasing by 32.8% to 44.1 billion GB, and voice traffic rising by 6% to 1.42 trillion minutes.
Jio is now the largest 5G operator outside China, with around 130 million 5G subscribers accounting for over 31% of wireless data traffic. The company uses its own 5G+4G combo core to handle all 5G data traffic.
“Our new prepaid plans would foster industry innovation towards 5G and AI and drive sustainable growth,” said Akash M Ambani, Chairman of Reliance Jio Infocomm.
“The digital services business registered an impressive financial performance year-on-year, continuing its positive growth momentum. Jio’s True 5G network, covering ~85 percent of India’s 5G capacity, continues to attract users, while the fixed broadband offerings are witnessing increasing consumer traction both in homes and enterprises,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.
“This is further accelerating the digital revolution reshaping communications, analytics and computing, media and entertainment and commerce in India. Jio is committed to providing the best-quality state-of-the-art network at the most affordable prices globally,” Ambani added.
Jio’s 5G Fixed Wireless Access (FWA) service, JioAirFiber, is experiencing strong adoption and engagement across India, thanks to its unique focus on entertainment combined with high-quality broadband connectivity.
The company reported its highest-ever quarterly home connections, exceeding 1.1 million, driven by this robust demand. Jio is utilizing network slicing on a Standalone 5G network and point-to-multipoint deployment to enhance fixed broadband infrastructure in India.
Jio recently introduced new unlimited plans, effective from July 3, 2024, which represent a 13% to 25% increase compared to previous plans.
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