Jio Platforms Sees Surge in Profits Amid Tariff Hike and 5G Expansion
RIL's Jio Platforms reported a 25.7% rise in quarterly profit to Rs 7,022 crore, driven by a tariff increase and growth in 5G services. The quarter saw significant revenue and subscriber gains, with the company's home broadband service reaching 1.8 crore subscribers and data consumption hitting record levels.
- Country:
- India
Jio Platforms, Reliance Industries Limited's digital arm, reported a 25.7% increase in profit after tax, reaching Rs 7,022 crore in the final quarter of the 2024-25 financial year. This growth is attributed to a strategic tariff hike in July 2024 and the rising adoption of 5G services.
The company witnessed a notable expansion in its customer base, with Reliance Jio adding 61 lakh users, bringing the total to 48.82 crore subscribers. JioHome, its broadband arm, recorded a substantial uptick in users, reaching 1.8 crore. The average revenue per user rose by 13.5% to Rs 206.2.
Reliance Jio's data consumption reached unprecedented levels, with per capita usage climbing to 33.6 GB monthly. The firm anticipates future monetisation opportunities as 5G consumption habits become ingrained among users.
(With inputs from agencies.)
ALSO READ
Auto Component Industry Hit by US Tariff Hike
JSERC Implements Power Tariff Hike in Jharkhand
Tejas Networks Powers BSNL’s 4G & 5G Expansion
TRAI suggests govt levy 4% of annual revenue as spectrum fee on satellite broadband internet service providers like Elon Musk's Starlink.
TRAI recommends Rs 500 per subscriber a year additional fee for satellite broadband service providers offering services in urban areas.
Google News