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Reliance Jio reported a 28.06 per cent y-o-y increase in net profit in Q2 FY23.
Profits rose to ₹4,518 crore (₹3,528 crore in Q2 FY22). Revenue from operations rose 20.2 per cent to ₹22,521 crore (₹18,749 crore).
EBITDA margins at 49.5 per cent increased 250 bps year on year, “due to ARPU increase in connectivity business partly offset by inflationary pressure on operating costs,” according to Jio. EBITDA for the operator was at ₹12,011 crore, up 29.2 per cent.
For the connectivity business, the net subscriber addition was at 7.7 million in Q2. Gross adds were 32.7 million. Jio’s subscriber market share now stands at 36 per cent. In wireline services, Jio has almost 8 million connected premises. “Daily customer engagement on Jio STB is approaching six hours with new bundled entertainment packages offered for postpaid subscribers,” said Jio during their results.
ARPU growth
The operator also reported an ARPU of ₹177.2, growing 0.8 per cent q-o-q. Last quarter, the company’s ARPU had grown 4.8 per cent. The effects of price hikes taken in December have mostly gone through, as per experts. Total data traffic was at 28.2 billion GB during the quarter; higher by 22.7 per cent. Total voice traffic was 1.23 trillion minutes during the quarter, 12.3 per cent growth year on year. The average data consumption per user per month increased to 22.2 GB while per capita voice consumption was 969 minutes.
5G plans
Mentioning their beta trail for 5G services launched in October, Jio reiterated that the plan is to complete 5G rollout by 2023.
Speaking on Jio’s partnerships with global tech companies such as Qualcomm, Intel and Google, Kiran Thomas, President of Reliance Industries Limited, said: “We are focusing to develop 5G infrastructure with Qualcomm especially in SubGHz in mm-wave spectrum bands, to develop the richest 5G infrastructure in India. We are working with Google to help provide 5G stack for private network applications and enable a number of Google solutions to run on top of network.”
Thomas also added that Jio is utilising Intel’s capabilities to make the next generation of cloud and edge data centres.
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