More Stories

Informist, Thursday, Jan. 16, 2025

--RJio Oct-Dec net profit INR 64.77 bln

--RJio Oct-Dec net profit INR 64.77 bln vs INR 62.31 bln quarter ago

--RJio Oct-Dec revenue INR 293.07 bln vs INR 283.38 bln quarter ago

--RJio Oct-Dec network operating spend INR 83.59 bln vs INR 82.44 bln qtr ago

--RJio Apr-Dec net profit INR 181.53 bln vs INR 151.29 bln year ago

--RJio Apr-Dec revenue INR 841.23 bln vs INR 741.60 bln year ago

KOLKATA – Loss of customers in October but a steady revenue growth from each user due to higher tariff, offset mounting costs for Reliance Jio Infocomm Ltd. during Oct-Dec, leading the company to report a 3.9% sequential growth in its profit after tax for the December quarter at INR 64.8 billion.

During Jul-Sept, Reliance Jio Infocomm--the country's largest cellular network service provider with a market share of nearly 40%--reported a profit after tax of INR 62.3 billion.

Reliance Jio Infocomm had increased its tariff for mobile phone services in July. While its effects were felt in the Jul-Sept quarter, it drilled down in the Oct-Dec period as well. The company's revenue increased by 3.4% sequentially at INR 293.1 billion in the December quarter as against INR 283.4 billion in Jul-Sept primarily on account of the tariff hike.

According to data from the Telecom Regulatory Authority of India, Reliance Jio Infocomm lost 3.76 million users in October and nearly 8 million users in September. However, the average revenue per user per month--the metric for the telecom industry to highlight if a company's revenue per user is improving or not--increased by 4.2% on quarter to INR 203.3 during Oct-Dec for Jio Platforms Ltd. Reliance Jio Infocomm is part of Jio Platforms Ltd, which is owned by the Reliance Industries Ltd.

In a statement, Reliance Industries said that in Jio Platforms, customer addition has rebounded to pre-tariff-hike levels in the exit month after transient SIM consolidation, and net subscriber addition in Oct-Dec was 3.3 million, with the monthly churn moderating to 2%.

Akash M. Ambani, the chairman of Reliance Jio Infocomm, in a company-issued statement said, "Jio will continue to lead the charge in technology innovation by fully embracing the power of AI to create a connected, intelligent future that is truly transformative. This will drive sustained value creation over next many years." The company is focussing on expanding its 5G network, besides augmenting its existing wireless and wireline network capacity.

Reliance Jio Infocomm's network operating expenses--the largest cost overhead comprising nearly 40% of total costs--rose by 1.4% sequentially at INR 83.6 billion during Oct-Dec as compared to INR 82.4 billion in Jul-Sept. Total costs rose by a little over 3.8% on quarter at INR 209.3 billion.

During Apr-Dec, the company reported a strong 13.4% on year growth in its revenue at INR 841.2 billion as against INR 741.6 billion in the year-ago period. The profit after tax, during Apr-Dec was up nearly 20% on year at INR 181.5 billion, as against INR 151.3 billion in the year-ago period.

Thursday, shares of Reliance Industries closed 1.1% higher at INR 1,266.5 on the National Stock Exchange. End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Avishek Rakshit

Edited by Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.