Jio logo.
Credit: Reuters photo
New Delhi: Jio Platforms on Monday reported a 23.4 per cent year-on-year rise in its consolidated net profit for Q2 FY25 to Rs 6,539 crore, as average revenue per user surged to Rs 195.1 per month.
The revenue from operations of Jio Platforms - which houses Reliance Industries' telecom and digital businesses - rose 18 per cent to Rs 31,709 crore in the just-ended September quarter.
The gross revenue stood at Rs 37,119 crore in Q2FY25, 17.7 per cent higher than the corresponding period of the previous year.
ARPU - a key metric for telcos - increased to Rs 195.1 with the partial follow-through of the tariff hike and a better subscriber mix. The ARPU was substantially higher (7.4 per cent) compared to Rs 181.7 seen in Q1 FY25 and Q2 FY24.
The full impact of the tariff hike will flow through in the next 2-3 quarters, according to an earnings statement.
Engagement levels continued to remain strong with total data and voice traffic increasing by 24 per cent and 6.4 per cent, respectively.
"Limited amount of SIM consolidation observed after the tariff hike, offsetting continued strength in gross addition in 2Q FY25; monthly churn increased to 2.8 per cent," the statement said.
Jio has reached 148 million subscribers on 5G in less than two years of the launch and continues to be the largest 5G operator outside China, the company said.
"Jio has transformed India from 5G-dark to 5G-bright through unmatched spectrum holdings, 5G Standalone Architecture, and advanced technologies like Carrier Aggregation and Network Slicing," it said.
Akash M Ambani, Chairman of Reliance Jio Infocomm, said Jio since its inception has focused on deep tech innovation to create customer and shareholder value.
"The ongoing transformation created by Jio True5G and JioAirFiber in India’s digital landscape is a testament to this approach. AI is creating the next runway for this transformation, and Jio is committed to developing the world’s best AI ecosystem in India, for all Indians. Jio is committed to delivering robust shareholder returns and has demonstrated a strong uplift in financial performance in the current quarter," he added.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, said growth in Digital Services was led by increased ARPU and improving customer engagement metrics, reflecting the strong value proposition of services.