Jio Platforms Q4 results: Net profit zooms 47.5% to Rs. 3,508 crore
Jio Platforms is an Indian technology company and a subsidiary of Reliance Industries, headquartered in Mumbai, India. Jio Platforms on Friday posted a net profit of Rs. 3,508 crore for the fourth quarter ended March 2021. a 47.5 percent jump over the year-ago period, according to a company statement.
While its revenue from operations came in at Rs. 18,278 crore, a growth of about 19 percent compared to the corresponding period of the previous year. The company said its total customer base as of March 31st, 2021 stood at 42.62 crores.
During the quarter, Jio’s Average Revenue Per User (ARPU), a key metrics for telcos was at Rs. 138.2 per, lower than Rs. 151 clocked in the December quarter. “ARPU for Q4FY21 was Rs 138.2, with the sequential decline driven by the transition from Interconnect Usage Charges (IUC) to Bill. And keep regime effective 1st January 2021, and lower number of days during the quarter, the company said in a statement.
Mukesh D Ambani, Chairman, and Managing Director, Reliance Industries said. Jio has a highly engaged 426 million customer base and remains committed to enhancing the digital experience 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.
Moreover, Ambani noted that Covid has brought forth new challenges for the country. And added that Jio’s on-the-ground teams are working tirelessly to address all issues for ensuring seamless customer service. JPL (Jio Platforms) closed its first full year of operations with revenue and EBITDA of Rs. 73,503 crore and Rs. 32,359 crore, respectively. Despite Covid related challenges, the statement added. For the full year FY21, the net profit was at Rs. 12,537 crore.
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