Jio revenue jumps 23% to $3 bn in July-Sept

Jio Platforms, a leading telecom operator in India, has reported operating revenue of Rs 24,275 crore ($3 billion), registering growth of 22.7 percent driven by ARPU increase for the connectivity business, during July-September 2022.
Jio July-Sept 2022ARPU during the quarter of Rs 177.2 per subscriber per month saw 23.5 percent growth, Reliance Jio said.

Total customer base as on 30th September 2022 was 427.6 million. Total data traffic was 28.2 billion GB during the quarter, 22.7 percent growth. Total voice traffic was 1.23 trillion minutes during the quarter, 12.3 percent growth.

EBITDA margin at 49.5 percent, increased 250 bps Y-o-Y due to ARPU increase in connectivity business partly offset by inflationary pressure on operating costs.

Net profit for the quarter was Rs 4,729 crore ($581 million), higher by 26.9 percent. Cash profit for the quarter was Rs 10,966 crore ($1.3 billion), higher by 33.6 percent.

Jio Platforms said net subscriber addition was 7.7 million as gross adds remained strong at 32.7 million in 2Q FY23.

Data consumption per user per month increased to 22.2 GB while per capita voice consumption was 969 minutes.

Jio Platforms does not reveal its Capex plans. Jio Platforms is in the process of building its 5G network in select cities. Recently, it announced its 5G network contracts with Ericsson and Nokia. Jio Platforms is yet to announce its 5G network deal with Samsung. Jio Platforms is currently working with Samsung for its 4G business.

Jio has acquired 25,040 MHz spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands during the 2022 spectrum auctions for Rs 88,078 crore.

Jio’s wireline services reached almost 8 million connected premises. Daily customer engagement on Jio STB is approaching 6 hours with new bundled entertainment packages offered for postpaid subscribers.