Jio Platforms posts Rs 6,861 cr PAT, up 26% Y-o-Y

RIL's Jio Platforms has announced quarterly revenue at Rs 38,750 crore for the quarter ended 31st December, 2024.

The Profit after Tax of Jio Platforms stands at Rs 6,861 crore, up 26% Y-o-Y.

The gross revenue for the company in Q3 is at Rs 38,750 crore against Rs 32,510 crore recorded in Q2 last year, a 19.2% increase.

Jio Platforms’ total subscriber base as of December 2024 stands at 482 million, a growth of 2.4% YoY, the company has said in the Q3 financial results. Net subscriber addition in 3Q FY25 was 3.3 million and monthly churn moderated to 2.0%.

Reliance Industries Limited has posted gross revenue of Rs 267,186 crore for Q3 FY25. Profit Before Tax is at Rs 28,643 crore, as against Rs 25,833 crore of the same quarter last FY, an increase of 10.9%.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “The previous month commemorated the 25th anniversary of our Jamnagar refinery. It gives me great pleasure to see Reliance grow exponentially over the years and set new benchmarks that demonstrate the inherent strength and resilience we have across all our businesses. The delivery of record EBITDA and PAT at a consolidated level for this quarter is a testament to this.

Robust growth in digital services business was led by sustained subscriber addition and consistent improvement in customer engagement metrics. This was well supported by a favorable subscriber mix, with an increasing number of users upgrading to 5G networks. Jio’s compelling offering of home broadband services also continued to rapidly gain ground and maintain its pre-eminent market position. It gives me immense joy to see Jio grow and support the expanding technology capabilities of new India. Teams at Jio continue to enhance its offerings, in line with the constantly evolving technology landscape to bring the best-in-class digital experience to all.

Retail segment delivered a strong performance, with noteworthy contribution from all formats. The business ably capitalized on the pick-up in consumption amid festive demand during the quarter. A superior understanding of customer needs and preferences enables Reliance Retail to serve a wide variety of demographic profiles with the right product, at the right time, through the right channel. With customer-centric innovation at its core, the business constantly endeavors to enhance the shopping experience of its customers through its vast reach and a constantly expanding product basket.

The O2C business showcased its innate resilience, registering growth even in this prolonged period of volatility in the global energy markets. Refining margins recovered sequentially, with petrochemical deltas exhibiting a mixed trend. Upstream segment continues to play a pivotal role in providing the crucial transition fuel bolstering India’s energy security.”

Akash M Ambani, Chairman of Reliance Jio Infocomm, said, “Jio has played a key role in digital inclusion by bringing the world’s best communication technologies for every Indian. Rapid scale up of 5G adoption and proliferating fixed broadband beyond Tier1 towns over the past year, further strengthens the Digital India mission. Jio will continue to lead the charge in technology innovation by fully embracing the power of AI to create a connected, intelligent future that is truly transformative. This will drive sustained value creation over next many years.”