16-October-2024
Corporate News
 
Jio Platforms Q2FY25 results: Higher tariffs see net profit at Rs 6.5K cr
15-Oct-2024

Jio Platforms Ltd (JPL), which runs the country’s largest mobile network operator Reliance Jio, on Monday reported a sharp 23.4 per cent year-on-year (Y-o-Y) increase in net profit to Rs 6,539 crore for the second quarter (July-September) of FY25. Its bottom line was boosted due to higher telecom tariffs imposed in early July. On a sequential basis, the holding company for Jio and other digital businesses of the Reliance group, saw its net profit grow 14.7 per cent. In Q2, Jio's Y-o-Y net profit growth gathered pace compared to 11.7 per cent and 12 per cent increase in the previous two quarters. As a result, the telecom firm's average revenue per user (Arpu) in Q2 rose to Rs 191.5, after remaining unchanged at Rs 181.7 for four straight months. Calculated yearly, Arpu was higher by 7.4 per cent in Q2. The company said a partial follow-through of the tariff hike and a better subscriber mix ensured this. "The full impact of the tariff hike will flow through in the next 2-3 quarters," it said.

News Source:- https://www.business-standard.com/companies/results/jio-platforms-q2-higher-tariffs-boost-net-profit-by-23-4-to-rs-6-539-cr-124101401102_1.html