Jio Platforms Limited’s third quarter highlights shows a massive achievement of US$10 billion revenue run-rate. Jio’s never-ending efforts to rid India of 2G, has led to advanced testing with Jio 5G radio integrated with a 5G core and now it delivers throughputs with an additional 1GBPS.
This quarter has seen an increase of nearly 15.5% over the previous quarter as a consolidated net profit of Jio, Rs 3,489 crore has been recorded.
The Chairman and Managing Director of Reliance Industries Limited, Mukesh D. Ambani’s statement regarding this report,
“India is today among the leaders driving the Digital Revolution in the world. In order to maintain this lead, Jio will accelerate the rollout of its digital platforms and indigenously developed next generation 5G stack and make it affordable and available everywhere. Jio’s 5G service will be a testimony to the vision of Atma Nirbhar Bharat.”
Despite Covid restraints and local issues, the total customer gross addiction was robust at 25.1 million, and a net subscriber addition of 40 million during CY20 is ranked highest in the industry.
Jio has honoured its commitment and has now made all voice calls absolutely free starting from 1st January 2021. Earlier, Jio had assured all its users that the charge for all offnet outgoing calls would continue only till the TRAI abolished the IUC charges.
The in-house MIMO and indoor 5G small cell are currently under advanced stages of development, as reported by Jio. Jio Meet has also crossed 15 million users now and is evolving as a platform for providing solutions for several segments like large enterprises, healthcare industry, educational and government institutions.
With this outstanding performance by Jio Platforms Limited, they have a milestone with the reported revenue run-rate of US$10 billion showing strong Revenue and EBITDA growth.
Google transaction has also been completed by the platform post requisite regulatory for an investment of Rs 33,737 crore into JPL for 7.73% stake. With this completed, the net amount received by the company is Rs 152,056.
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