Jio Platforms shares rise after September quarter profit hits Rs 8,389 crore
The company reported a 14 per cent year-on-year increase in consolidated net profit for the September quarter.
Jio Platforms shares rose as much as 3.1 per cent to a high of Rs 1,476 on the BSE on Monday. According to the Economic Times, this rally followed the company's first earnings report since its stock market debut earlier this week.
The company reported a 14 per cent year-on-year increase in consolidated net profit to Rs 8,389 crore for the September quarter. Revenue from operations grew 11 per cent year-on-year to Rs 40,475 crore, up from Rs 36,332 crore in the same quarter last year.
EBITDA rose 17 per cent year-on-year during the quarter, with the EBITDA margin expanding 250 basis points to 54.1 per cent. Average revenue per user (ARPU) increased to Rs 218.8.
Jio Platforms added 9.1 million net subscribers during the quarter, while its 5G subscriber base reached 300 million. The company's fixed broadband subscriber base reached 30 million, with Jio AirFiber accounting for more than 75 per cent of fixed broadband additions over the last 12 months.
Jio Platforms MD Akash M Ambani said the results reflect the strength of the 5G network and the reach of broadband and digital services. He stated the company will continue to strengthen capabilities in satellite communications, 6G intellectual property, and artificial intelligence.