Both the topline and bottomline figures were below the market estimate. An ET Now poll had estimated PAT at Rs 4,619 crore while revenue was expected at Rs 22,912 crore.
Jio’s operating margin improved marginally to 26.3% from 26.2% in Q2 of FY22. Similarly, the net profit margin also saw a nominal improvement to 17% in the September quarter from 16.9% in the corresponding period of the last year.
During the quarter, the telco’s basic EPS increased to Rs 1.01 from Rs 0.78 in the year-ago period.
The debt-equity ratio increased to 0.18. Jio’s EBITDA margin improved 90 basis points to 51% on a sequential basis.
Jio Platforms Ltd’s consolidated net revenue for the reported quarter rose nearly 23% on year to Rs 24,275 crore, led by higher average revenue per user (ARPU) for the connectivity business.
The ARPU for the quarter stood at Rs 177.2, higher than Rs 175.7 a quarter ago. The EBITDA grew 29% on year to Rs 12,011 crore on the back of strong revenue and margins. Operating margin expanded by a sharp 250 basis points to 49.5% on higher ARPU which offset higher operating costs.
The telecom operator net added 7.7 million subscribers in Q2, as gross additions remained strong at 32.7 million. Reliance Jio’s total customer base as on September 30 stood at 42.76 crore.