The digital service provider experienced balanced top-line and operational growth, with quarterly revenue reaching Rs 40,475 crore alongside an EBITDA margin of 54.1%. Network migration remains strong, highlighted by 300 million 5G users who now generate more than half of the company's total wireless traffic. The fixed broadband segment also saw significant traction, largely propelled by Jio AirFiber accounting for over 75% of new broadband connections over the past year.
Key points
Extensive 5G network coverage has lifted data consumption 27% higher than closest market…: Extensive 5G network coverage has lifted data consumption 27% higher than closest market rival Bharti Airtel.
Brokerage firm Nomura projects that sustained operational cash flows could enable the com…: Brokerage firm Nomura projects that sustained operational cash flows could enable the company to become debt-free by FY29.
Long-term valuation multiples and earnings projections remain closely tied to sustained e…: Long-term valuation multiples and earnings projections remain closely tied to sustained expansion in wireless average revenue per user.
Sources checked by our analysis pipeline: 1
Revenue from operations climbed 11% YoY to Rs 40,475 crore from Rs 36,332 crore in the corresponding quarter last year. On a sequential basis, net profit rose 8% from Rs 7,765 crore reported in the June quarter, while revenue grew 3%.
EBITDA rose 17% YoY during the quarter, supported by revenue growth, operating leverage and margin improvement. The EBITDA margin expanded 250 basis points to 54.1%. ARPU also edged higher to Rs 218.8 in the second quarter, as promotional offers for fixed broadband customers offset the benefits from a better subscriber mix and higher usage.
The results come after Jio Platforms' stock market debut on October 28. Its shares listed at Rs 1,358, representing a 21.36% premium over the issue price of Rs 1,119.
On the operational front, per capita data consumption stood at 44.2 GB per month, while total data traffic increased 22% YoY in the September quarter. Monthly subscriber churn remained stable at 1.6%, and the company added 9.1 million net subscribers during the quarter.
As of the end of September, Jio's 5G subscriber base stood at 300…
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