RIL Q1 FY25: Jio Platform’s Net Profit Rises 12% YoY To INR 5,693 Cr

Reliance Industries Ltd’s (RIL’s) digital giant Jio Platforms posted a 12% year-on-year (YoY) increase in its consolidated net profit to INR 5,698 Cr in the first quarter of the financial year 2024-25 (FY25). 

However, net profit grew about 2% from INR 5,583 Cr in Q4 FY24.

Revenue from operations grew 13% YoY to INR 29,449 Cr in Q1 FY25. On a sequential basis, operating revenue grew 2% from INR 28,871 Cr.

Jio Platforms’ ARPU remained unchanged on a sequential basis during the quarter at INR 181.7 per month.  ARPU grew marginally on a YoY basis from INR 180.5 per month. 

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 12% YoY to INR 14,638 Cr during the quarter, while EBITDA margin stood at 49.7%. 

Customer base stood at 48.97 Cr at the end of the June quarter, an increase of 9% from 44.85 Cr a year ago. The number stood at 48.18 Cr at the end of Q4 FY24.

Its telecom company Reliance Jio Infocomm Ltd posted a standalone net profit of INR 5,445 Cr during the quarter under review, up 11% YoY and 2% QoQ. Operating revenue zoomed  10% YoY and 2% QoQ to INR 26,478 Cr.  

In a statement, the company said the ARPU growth was partially offset by an increasing mix of promotional 5G traffic being on an unlimited basis to subscribers and not charged separately. However, engagement levels for total data and voice traffic increased 32.8% and 6.6% YoY, respectively.

It is pertinent to note that Jio hiked the tariffs for its prepaid and postpaid plans by 13% to 25% earlier this month. Alongside, it also launched two new applications –  communication app JioTranslate and AI-powered multilingual communication app JioTranslate. Both of these plans would be free for a Jio customer year.

In a statement, Reliance Jio Infocomm’s chairman Akash M Ambani said, “Ubiquitous, high high-quality, affordable internet is the backbone of Digital India and Jio takes pride in contributing to this. Our new prepaid plans would foster industry innovation towards 5G and AI and drive sustainable growth. Jio with its superior network and new service propositions would further build its market leadership with a customer first approach.”

The company claimed that it continues to lead the industry and gain subscriber share with 8.0 Mn net additions in Q1 FY25. “Jio is the largest 5G operator outside China with ~ 130 million subscribers accounting for over 31% of Jio’s wireless data traffic. The entire 5G data is being carried on Jio’s own 5G+4G combo core,” the company said. 

The company also claimed that it became the largest operator globally in terms of data traffic.

Meanwhile, the digital and new commerce business contributed 18% to the total revenue of Reliance Retail in Q1 FY25.