The growth in revenues during the quarter was driven by increase in ARPU as well as a modest addition to its subscriber base.
Reliance Jio Infocomm, a subsidiary of Jio Platforms, reported a year-on-year growth of 23.8 percent in its standalone net profit of Rs 4,335 crore for the quarter ended June 2022 (Q1FY23) compared to Rs 3,501 crore achieved a year ago.
On a sequential basis, the profit has grown 3.9 percent from Rs 4,173 crore recorded in the January–March quarter. Jio Platforms is the digital unit of Reliance Industries.
The company recorded revenues of Rs 21,873 crore for the reported quarter, which is a growth of 21.6 percent from Rs 17,994 crore a year back. Sequentially, the revenues increased 4.7 percent on Rs 20,901 crore reported during the previous quarter.
The growth in revenues during the quarter was driven by an increase in average revenue per user (ARPU) as well as a modest addition to its subscriber base.
EBITDA (Earnings before interest, tax, depreciation and amortization) for the quarter grew 27.2 percent to Rs 10,964 crore as compared to Rs 8,617 crore achieved during the same period a year ago. On a sequential basis, the EBITDA is higher by 4.3 percent from Rs 10,510 crore in the previous quarter.
EBITDA margins for the quarter improved 220 bps (100 bps = 1 percent) on year to 50.1 percent while on a sequential basis, the margins were flat with a marginal decline of 20 bps.
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