Reliance Jio Q1 net profit jumps 45% to Rs 3,651 crore

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Jio Platforms Limited, the telecom and digital services arm of Reliance Industries Limited (RIL) recorded 44.9% year on year jump in its net profit to Rs 3,651 crore net in the first quarter of the current financial year.

Total customer base of Jio increased to 44 crores, as on June 30, 2021, said the company while announcing its quarterly financial results today.

Total data traffic on Jio network witnessed 38.5% growth and stood at 20.3 billion GB during the quarter.

During Q1 FY22, average data consumption per user per month increased to 15.6 GB while average voice consumption was at 818 minutes per user per month.

ARPU during the quarter was Rs 138.4 per subscriber per month.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said: “The results of the first quarter of FY2022 clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket.”

Jio rolled our several customer focused initiatives to minimize Covid-19 led disruption during the quarter which included complimentary offers for JioPhone users, emergency data loan, WhatsApp recharge option, and freedom plans with no daily data limits.

JioFiber now has more than 3 million connected homes with improving momentum in recent months.

During the quarter, Reliance Jio Infocomm Limited  signed a definitive agreement with Bharti Airtel Limited for acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading.

RJIL along with Google showcased jointly developed smartphone ‘JioPhone Next’.

Jio and Google Cloud have also embarked on a comprehensive, long-term strategic relationship with a goal of powering 5G in enterprise and consumer segments.

This collaboration would develop 5G edge computing solutions across gaming, healthcare, education, and video entertainment.

Google Cloud’s scalable infrastructure would also enable Reliance Retail to achieve better operational
efficiency, modernize and scale for growth, and deliver better experiences to customers.