Mukesh Ambani owned Reliance Jio has reported a standalone net profit of Rs 3,528 crore in the second quarter of FY22 meeting street expectations of Rs 3,500 crore according to a CNBC-TV18 poll. Compared to the previous quarter this is an uptick of 0.8 percent.

The average revenue per user or ARPU, however, has beaten expectations handsomely coming in at Rs 143.60 versus an expectation of Rs 140.50, as per our poll. The company added 429.50 million subscribers in the reported period.

The standalone revenue has slightly missed estimates coming in at Rs 18,735 crore versus the poll reading of Rs 18,970 crore. Compared to the previous quarter this is a rise of 4.1 percent.

Reliance Industries Q2:

Rs 13,680 crore net profit beats street estimates, oil-to-chemicals revenue at Rs 1.2 lakh crore

India's largest telecom operator has reported a standalone EBITDA at Rs 8,989 crore versus an expectation of Of Rs 9,150 crore. The EBITDA margin reading is at 48 percent which is exactly as per our estimate.

Snapshot of Reliance Jio's Q2FY22 performance

Mukesh Ambani in his statement about the quarterly performance said, "Jio, "Our digital services business continues to transform the broadband market in India and set new benchmarks for the industry."

Jio also has reiterated its plans to launch JioPhone Next launch by Diwali. The company is working with Google to meet this deadline.

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Jio has also entered into partnerships with leading automobile OEMs in both two-wheeler and four-wheeler segments to provide automotive solutions designed to deliver an array of consumer and enterprise services. The aim is to enable users to access trending infotainment and real-time telematics on the go as it brings the benefits of digital life to a vehicle and to people on the move.

Jio gained 6.49 lakh mobile users in August, leading the subscriber addition tally as the second-largest Bharti Airtel added 1.38 lakh users, according to TRAI data released on Wednesday. In contrast, Vodafone Idea lost 8.33 lakh subscribers during the month, although its losses were sharply lower compared to that in July.

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(Edited by : Abhishek Jha)

First Published:Oct 22, 2021 8:29 PM IST