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Jio Braves’ challenges for COVID-19 to send 47.5 Percent Net Profit Skip to Rs. 3,508 Crores on Q4 2021

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Reliance’s Jio Platforms Ltd (JPL) recorded a profit of 47.5% per annum for the first quarter of the 2021 financial year to crores of Rs 3,508.

The company said in a statement that despite the challenges associated with COVID, JPL has closed its first full year of profitable operations with EBITDA (pre-interest earnings, taxes, depreciation, and taxation) of Rs 73,503, and 32,359 crores respectively.

This was driven by a strong 45 per cent growth in YoY EBITDA at RJIL following continued enrollment of subscribers with an average per unit (ARPU).

“JPL’s quarterly revenue was rs 18,278 crores, consecutive declines leading to a change in the Bill and Keep regime and a lower number of days per quarter. Similar growth in operating income was 30% for YoY in Q4FY21,” the statement said.

“Also, the EBITDA quarterly limit increased 600 bps of YoY to 46.9% with EBITDA to Rs 8,573 crores. Total profits on Q4FY21 for JPL increased 47.5 percent for YoY to at 3,508 crores (FY21 net net at Rs 12,537 crore), “the statement said.

The company also recorded a total customer increase of 31.2 million (total increase of 15.4 million) in a quarter on improved travel and home travel.

“The total number of subscribers added 99.3 million during the FY21 period despite the Covid-related challenges,” the statement said.

It also stated that the average revenue per Q4FY21 unit was Rs 138.2, a successive decline driven by the transition from the Interconnect Usage Charges (IUC) to the Bill & Keep regime from January 1, 2021, with a minimum number of days per quarter.

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