Reliance Jio Sees 23% Jump In Profits; FY22 Revenue Crosses INR 81K Cr

Reliance Jio Platforms has reported a net profit of INR 15,487 Cr for the full fiscal year 2022, up 23.6% in comparison to FY2021. Operating revenue reached INR 81,587 Cr up from INR 73,503 Cr operating revenue reported in March last year.

The total value of services provided for the year or GMV for Mukesh Ambani-led Reliance Jio reached INR 95,804 Cr for the period ended March 2022, as compared to INR 86,493 Cr in 2021. Jio reported a 24.2% jump in fourth-quarter net profit, which rose to INR 4,313 Cr for the quarter, up 27.4% from a year earlier.

On a quarterly basis, Jio’s revenue from operations reached INR 22,261 Cr compared to INR 18,278 Cr in the same quarter last year, and up from INR 20,597 Cr in the previous quarter ended December 2021.

Operating revenue for the quarter also saw robust growth at INR 10,510 Cr as against INR 9,514 Cr reported in the previous quarter. Reliance Jio’s operating margin in the quarter expanded 110 basis points quarter-on-quarter to 50.3% reflecting the impact of higher tariffs in the telecom sector in 2022.

Reliance Jio Subscriber Base Up To 410.2 Mn

The latest telecom subscription data released by the Telecom Regulatory Authority of India (TRAI) showed a steep decline in subscription numbers of Reliance Jio. Reliance Jio’s subscribers fell by more than 3.6 Mn in February 2022, representing a drop of 2.49% of its total subscriber count.

Meanwhile, Jio’s closest rival Bharti Airtel subscribers grew by more than 1.5 Mn during the month, signifying a rise of 0.49% in its total subscriber number. In contrast, Vi lost more than 1.5 Mn subscribers in February, representing a drop of 0.58% of its total subscriber strength.

Jio announced that its total customer base as on March 31, 2022 had reached 410.2 Mn. Gross subscriber addition for the quarter was 35.5 Mn across the mobility and broadband businesses. The total subscriber base is lower than than 435 Mn the company had reported last year.

Average revenue per user (ARPU) during the quarter of INR 167.6 per subscriber per month, which is 21.3% growth compared to the same quarter last year, and 10.5% higher than the previous quarter.

As per the company, the total data traffic was 24.6 Bn GB during the quarter, which is 47.5% growth Y–o–Y, while total voice traffic was 1.2 Tn minutes during the quarter (16.8% higher than last March). Total data traffic was 91.4 Bn GB for 2021-22.