Jio Platforms’ Q3 Profit Surges 26% YoY To INR 6,861 Cr

Reliance Industries Ltd’s (RIL’s) digital arm Jio Platforms posted a 26% increase in its consolidated net profit to INR 6,861 Cr in the third quarter of the financial year 2024-25 (Q3 FY25) from INR 5,447 Cr in the year-ago quarter. 

On a sequential basis, profit grew 5% from INR 6,539 Cr . The EBITDA for the quarter stood at INR 16,585 Cr, up 18.8% from INR 13,955 Cr in Q3 FY24. However, EBITDA margin for the quarter dipped 30 basis points to 50.1% from 50.4% in Q3 FY24. 

Revenue from operations zoomed 19.2% to INR 33,074 Cr in Q3 FY25 from INR 27,697 Cr in the corresponding quarter of previous year. On a quarter on quarter basis, operating revenue grew 4.3% from INR 31,709 Cr.

The company attributed the growth in operating revenue to the partial impact of tariff hike, increase in pace of home connections, and accelerating non-connectivity digital services businesses.

Meanwhile, Reliance Jio Infocomm’s standalone profit for the quarter stood at INR 6,477 Cr, up 24% year-on-year (YoY). Its revenue from operations zoomed 16% YoY to INR 29,627 Cr. 

Jio Platforms’ average revenue per user (ARPU) surged to INR 203.3 per month at the end of the quarter as against INR 181.7 in Q3 FY24 and INR 195.1 in Q2 FY25. Total subscriber base stood at about 482 Mn, up 2.4% YoY, at the end of the December quarter.

The company said that the net subscriber addition in the quarter stood at 3.3 Mn with a monthly churn of 2%. It added that the customer addition rebounded to pre-tariff-hike levels in the exit month after transient SIM consolidation. 

Notably, Jio hiked the tariffs for its postpaid and prepaid plans by 12% to 25% from July 3. 

RIL said that Jio’s 5G customer base stands at over 170 Mn and accounts for 40% of the company’s wireless traffic. 

“JioAirFiber has transformed broadband connectivity in the country, especially beyond the top 1,000 cities/towns. More than 70% of incremental JioAirFiber additions are coming from these previously underserved cities/ towns. Overall pace of home connect for Jio has continued to accelerate with a total installed base of about 17 Mn,” the company said.

During the quarter, Jio also launched its AI powered cloud service offering JioAICloud. 

In August last year, RIL CMD Mukesh Ambani unveiled the offering which allows Jio users to get up to 100 GB of free cloud storage space. Moving forward, RIL said that it is looking to offer a rich bouquet of AI services for consumers and enterprises on the back of gigawatt scale AI infrastructure in India. 

“… Rapid scale up of 5G adoption and proliferating fixed broadband beyond Tier I towns over the past year, further strengthens the Digital India mission. Jio will continue to lead the charge in technology innovation by fully embracing the power of AI to create a connected, intelligent future that is truly transformative. This will drive sustained value creation over the next many years,” Ambani said.

Earlier this month, Jio also launched its “5.5G” network, which will offer download speeds of up to 10 Gbps and upload speeds of up to 1 Gbps, developed in partnership with OnePlus.

Meanwhile, RIL said that the digital and new commerce business accounted for 18% of revenue of its retail arm Reliance Retail in Q3 FY25.