Jio Q1 Results: Net profit stand at Rs 2520 Cr, up 183% YoY

The company has witnessed robust financial performance with 33.7% YoY revenue growth and 55.4% YoY EBITDA growth

e4m by exchange4media Staff
Updated: Jul 31, 2020 9:40 AM
Jio

 Jio Platforms, which has raised ₹ 152,056 crores in global investments, the company has witnessed a robust financial performance in this quarter. The company added 9.9 million to its customer roster despite covid related impacts and a gross addition in excess of 15 million during the quarter. Data traffic has been up 30% YoY to 14.2 exabytes with strong customer engagement. It has registered a robust financial performance with 33.7% YoY revenue growth and 55.4% YoY EBITDA growth.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “Jio started with a vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India. Thirteen investors, which include the largest technology companies and investors globally, now share a common vision with us. 

"Jio Platforms Limited with partnerships across promising Indian start-ups and globally renowned technology companies is set to drive the next leg of hyper-growth for digital businesses. Our growth strategy is aimed at meeting the needs of all the 1.3 billion Indians. We remain focused on playing a leading role India's transformation into a Digital Society.”

Jio has reported strong revenue and EBITDA growth driven by sustained subscriber momentum and ARPU improvement. Quarterly operating revenue for RJIL increased by 33.7% YoY to ₹ 16,557 crore with EBITDA margin of 44%. Strong EBITDA growth of 55.4% YoY to ₹ 7,281 crore drives net profit to ₹ 2,520 crore during the quarter (growth of 183% YoY).

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