Reliance Jio Platforms has reported a net profit of INR 12,537 Cr ($1.7 Bn) in the financial year 2021, with operating revenue reaching INR 73,503 Cr ($9.9 Bn). The total value of services provided for the year reached INR 86,493 Cr ($11 Bn), while the company’s average revenue per user (ARPU) declined nearly 8% from INR 151 ($2) in the third quarter of FY21 to INR 138.9 ($1.88) in Q4 of FY21.
Despite Covid-related challenges, the Mukesh Ambani-led digital services umbrella venture closed its first full year of operations with earnings before interest, taxes, depreciation, and amortization (EBITDA) of INR 32,359 Cr ($4.4 Bn). The company claimed it added 37.9 Mn users to its platform in the year, taking its total user base to 426.2 Mn. The total data traffic processed by Jio also increased 28.9% to 62.5 Bn in FY20.
Incorporated in December 2019, Jio Platforms Limited is an umbrella company for all the Reliance-owned digital businesses including Reliance Jio, MyJio, JioMeet, JioTV, JioCinema, JioNews, JioSaavn and JioMeet, among others. Overall, there are 30+ apps and services announced under the Jio name, with over 20 apps catering to the consumer market and others being dedicated for internal use or for partners.
Jio Platforms had reported a net profit of INR 3,508 Cr ($474 Mn) in the Q4 FY21, representing a marginal increase from the previous quarter’s INR 3,489 Cr ($471 Mn). It’s revenue from operation, on the other hand, decreased by 6.1%, from INR 19,475 Cr ($2.6 Bn) to INR 18,278 Cr ($2.4 Bn), in the same time frame.
The company claims that the decline in operational revenue and ARPU in the Q4 was due to the transition of users from interconnect usage charges (IUC) to ‘Bill & Keep’ regime and lower number of days during the quarter. Jio added 15.4 Mn users in the last quarter of FY21.
Total data traffic increased 5.2% QoQ from 15.8 GB to 16.7 Bn in Q4 2021, while the total voice traffic increased 5.9% QoQ from 970 Bn to 1.03 Tn minutes. Average data consumption per user per month was at 13.3 GB and average voice consumption was at 823 minutes per user per month during the Q4 of FY21.
Apr 30, 2021; 21:45
An earlier version of this story mentioned the wrong figure for net profit in the headline. The error is deeply regretted