Jio Platforms subsidiary Reliance Jio (Reliance Jio) Infocomm has announced its quarterly results. According to Jio, its net profit for the quarter ended June was Rs. 4335 crore, showing an increase of 23.8 percent over the previous year. This figure is as per market estimate. previously, ETThe survey estimated the profit at Rs 4,460 crore. In the same quarter last year, Jio (Jio) made a profit of Rs 3501 crore. According to the company, the increase in average revenue per customer is due to the increase in profit. Profits increased by 3.9 percent compared to the previous quarter.
22 percent increase in revenue
According to the results, Jio’s revenue grew by 21.6 percent over the previous year to Rs. 21,873 crore has reached the level. Jio’s revenue in the same quarter last year was Rs 17,994 crore. At the same time, a growth of 4.7 percent has been observed compared to the March quarter. At the same time, Reliance Jio Infocomm’s operating margin declined further by 20 basis points to 26.2 percent compared to last year. At the same time, net profit margin improved by 40 basis points to 16.9 percent. EBITDA increased by 27.2 percent during the quarter to Rs. 10,964 crores. At the same time EBITDA margin increased by 220 basis points to 50.1 percent.
The 5G auction will start from next week
Jio’s first quarter results come at a time when the company is gearing up for 5G services. The auction of 5G spectrum will start from July 26. In this, a total of 72 GHz radio waves worth at least Rs 4.3 lakh crore will be put up for sale. Jio bid the highest at Rs. An amount of 14 thousand crores has been deposited as EMD (earnest money deposit). Airtel has deposited Rs 5500 crore and Vodafone Idea has deposited Rs 2200 crore.
. Source