Mukesh Ambani's Reliance Jio has beaten street expectations and reported a standalone net profit of Rs 3,501 crore versus a CNBC-TV18 analyst's poll of Rs 3,250 crore in the first quarter of financial year 2022.
The standalone revenue has come in at Rs 17,994 crore versus the analysts' expectations of Rs 17,600 crore.
The Standalone EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reading is at Rs 8,617 crore versus the CNBC-TV18 poll of Rs 8,400 crore. The standalone EBITDA margin has been reported at 47.89 percent versus expectations of 47.7 percent.
Compared quarterly, as can be seen in the chart above, the profit has risen 4.2 percent, revenue has gone up 3.7 percent, EBITDA is up 3.9 percent and margins have risen by 10 bps.
Jio's subscriber addition is strong and has helped drive its growth. The telecom giant has added 440.6 million subscribers in the quarter which is an uptick of 3.4 percent compared quarter on quarter.
The average revenue per user or ARPU, a key metric to check the health of a telecom player has remained at a steady Rs 138.40 and is slightly above expectations. Last quarter the reading was Rs 138.20.
The total data traffic used in the quarter has been reported at 20.3 billion GB which is a massive growth of 38.5 percent QoQ.
"Jio has posted yet another record quarterly performance with industry-leading operating metrics. I am thankful to Jio’s family of loyal subscribers whose number has grown further during the quarter, consolidating its position as India’s No. 1 provider of digital connectivity and services. They appreciate our continuing focus on raising the bar for superior service quality," said Mukesh Ambani welcoming the quarterly performance.
The company has also provided an update on the speed of Jio Fibre, the internet service providing operations. So far Jio says that over 3 million connections have been activated and the average home consumption is almost 300 GB of data per month.
Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.