Jio is the telecom arm of Reliance Industries. Reliance Jio had earned a net profit of Rs 4,335 crore in the same period last year. Reliance Jio’s total revenue for the quarter rose to Rs 24,127 crore from Rs 21,995 crore a year ago. Income from operations rose 9.9 percent to Rs 24,042 crore from Rs 21,873 crore in the June 2022 quarter.
Average revenue per user increased by 2.8 percent to Rs 180.5. The telecom operator added 92 lakh subscribers during the quarter, taking the total subscriber base to 44.8 crore. Monthly expenses fell 1.8 percent in the quarter. Jio’s profit rose 250 basis points in the June quarter. The company’s total expenses for the quarter rose to Rs 17,594 crore. The amount was up from Rs 16,136 crore a year ago. The rise in costs was driven by total network operating expenses rising to Rs 7,379 crore from Rs 6,842 crore a year ago.
Behind revenue growth
Subscriber growth, including in wireline services, led to revenue in the business. Growth in digital services platform along with new services like video broadcast and cloud solutions contributed to the company’s consolidated revenue growth.
5G will roll out
Ethical Jio aims to roll out 5G across India by December 2023. Reliance Industries Chairman Mukesh Ambani said Jio will achieve further growth and speed in connectivity and digital platforms in the coming years. In the same quarter, Reliance’s data usage grew by 28.3 percent year-on-year
Mukesh Ambani stated that 1.15 lakh 5G sites have been deployed in 90 percent of the leading cities. He says Jio is leading in terms of network availability and customer experience.
