jio The integrated net profit of the platforms for the second quarter of the current financial year 2024-25 has increased by 23.4 percent to Rs 6,539 crore. The company said that during this period the average revenue per users (ARPU) increased to Rs 195.1 per month. Jio Platforms includes the telecom and digital businesses of Reliance Industries. The company's operating income rose 18 percent to Rs 31,709 crore in the September quarter. At the same time, the integrated net profit of the country's most valuable company Reliance Industries Ltd. (RIL) declined by five percent to Rs 16,563 crore in the July-September quarter of the current financial year.
Reliance Industries' profit decreased by 5 percent
The integrated net profit of the country's most valuable company Reliance Industries Ltd. (RIL) has declined by five percent to Rs 16,563 crore in the July-September quarter of the current financial year. The company's profit has declined mainly due to weak performance of oil refinery and petrochemical business. The company said in a statement on Monday that its consolidated net profit in the second quarter of the current financial year 2024-25 stood at Rs 16,563 crore compared to Rs 17,394 crore in the same quarter a year ago. Reliance's retail business and telecom units performed well, but margins in the refinery and petrochemicals business were impacted due to excess global supply.
Our extensive business is our strength: Mukesh Ambani
Commenting on the results, Mukesh D Ambani, Chairman and Managing Director of Reliance Industries Ltd, said, “I am pleased that once again Reliance has shown that our broad business is our strength. Our digital business and oil exploration and production business have recorded strong growth.'' He said, ''The loss suffered by the refinery and petrochemicals (O2C) business due to changes in the world has been offset to some extent by digital and Upstream business (oil exploration and production) has done. Ambani said that growth in digital business was due to increase in revenue per user and measures to engage customers. Jio Air Fiber offer is being liked by the customers and due to this, a significant growth is being seen in 'Home Broadband'.
Why did Jio's earnings increase?
Gross revenue in the second quarter of the current financial year stood at Rs 37,119 crore, which is 17.7 percent higher than the same period last year. ARPU, a key benchmark for telcos, rose to Rs 195.1 on the back of tariff hike and improvement in customer quality. In the first quarter of the financial year 2024-25 and the second quarter of the financial year 2023-24, this figure was Rs 181.7. According to the income statement, the full impact of the fee increase will be visible in the next 2-3 quarters. Total data and voice traffic grew by 24 percent and 6.4 percent, respectively. The company said that in less than two years of its launch, the number of Jio 5G subscribers has increased to 148 million.
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