Jio Platforms' net profit up 8.8% to Rs 3,795 crore in Q3
Jio Platforms reported an 8.8% increase in net profit for the third quarter ended December 2021, to Rs. 3,795 crore
Jio Platforms reported an 8.8% increase in net profit for the third quarter ended December 2021, to Rs. 3,795 crore. In the same time a year ago, the company made a net profit of Rs. 3,486 crore. From October to December 2020, gross revenue from operations increased by 5.76 percent to Rs. 24,176 crore, up from Rs. 22,858 crore.
Reliance Jio (RJIL), Jio Platforms' telecom services business, posted a 9.8 per cent rise in net profit at Rs. 3,615 crore for the quarter, compared to Rs. 3,291 crore in the year-ago period. . RJIL's revenue from operationsclimbed 4.62 percent to Rs. 19,347 crore from Rs. 18,492 crore earlier.
Jio stated that plans for a data-driven 5G network are in the works. It will be based on targeted consumer consumption and revenue, using Heat maps, 3D maps, and Ray tracing technology to target high consumption and perception locations.
"5G coverage planning has been completed for 1,000 top cities across the country. Jio has been doing trials on advanced use cases across Healthcare and Industrial Automation on its 5G network," Jio Platforms said.
The group stated that it has teamed with WhatsApp to simplify the prepaid recharge experience, providing unprecedented convenience to consumers.
Jio Platforms' total customer base was 42.1 crore at the end of December 2021, up from around 41 crore a year before.
Jio Platforms also stated that its average revenue per user (ARPU) increased by 8.4% year over year to Rs. 151.6.
"ARPU improves to Rs. 151.6 led by better subscriber mix and recent tariff hike. Full impact of tariff hike to be reflected in ARPU and financials over the next few quarters," Jio Platforms said.