Jio Platforms Ltd, the digital services unit of India’s largest conglomerate and parent of Reliance Jio Infocomm Ltd, on October 14 reported a 23.4 percent increase in quarterly profit to Rs 6,539 crore from a year earlier.
The company’s revenue from operations rose 18 percent to Rs 31,709 crore in the September quarter from Rs 26,875 crore a year earlier, driven by the partial impact of the tariff hike and the scale-up of home and digital services businesses.
EBITDA increased 17.8 percent to Rs 15,931 crore in the September quarter from Rs 13,528 crore a year ago, led by healthy revenue growth.
Reliance Jio Infocomm, India’s largest telecom operator by users, reported a quarterly profit of Rs 5,445 crore, up 12 percent from Rs 4,863 crore in the same quarter a year ago.
Jio’s ARPU rose 7.4 percent to Rs 195.1 from a year earlier due to the tariff hike and a better subscriber mix. Jio said the full impact of the tariff hike will be felt in the next 2-3 quarters.
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