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Sunday, September 19, 2021

Jio Q1 net profit rises 45 pc to Rs 3,651 crore





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Digital company Jio on Friday reported a 44.9 per cent jump in its net profit to Rs 3,651 crore for the first quarter ended June 30, according to a company statement.

        The company had posted a net profit of Rs 2,519 crore in the year-ago period.

 

      Its revenue from operations increased 9.8 per cent to Rs 18,952 crore during the reported quarter from Rs 17,254 crore a year ago.

      Jio’s total customer base stood at 44 crore at the end of the April-June 2021 quarter and the average revenue per user was Rs 138.4 per month during the reported period.

 

      “Healthy customer gross addition at 26.7 million in the quarter over the trailing quarter (was) driven by traction across mobility and homes.

      “Churn reduced further during the quarter to 0.95 per cent on the back of customer-focused initiatives to minimize COVID led disruption. These included complimentary offers for JioPhone users, Emergency Data Loan, WhatsApp recharge option, and Freedom Plans with no daily data limits,” Jio said in the statement.

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