Jio Platforms' first results since listing: Q2 profit up 14% to ₹8,389 crore

What happened

• Upstox gave net profit as ₹8,389 crore, up about 14%, revenue from operations as ₹40,475 crore, up 11.4%, and EBITDA as ₹21,879 crore, up 16.6%. The EBITDA margin was 54.1%, up 250 basis points.
• Average revenue per user was ₹218.8 a month. Upstox gave 5G subscribers as 300 million and fixed broadband subscribers as 30.0 million.
• The Tribune, in a report timed at 10:01 PM on Friday, gave the previous quarter's net profit as ₹7,765 crore and revenue as ₹39,173 crore. It noted these are the first results since the 28 October listing, at an issue price of ₹1,119 a share.

Why it matters

This is the first quarterly report since the shares began trading on 28 October. Jio Platforms also appears inside Reliance's consolidated numbers as its digital services arm.

Good to know: ARPU is average revenue per user, total telecom revenue divided by the average number of subscribers, usually quoted per month. A basis point is one hundredth of a percentage point.

Key facts

Net profit, per Upstox and The Tribune

₹8,389 crore, up about 14%

Revenue from operations

₹40,475 crore, up 11.4%

EBITDA, per Upstox

₹21,879 crore, up 16.6%; margin 54.1%

ARPU, per Upstox

₹218.8 a month

Previous quarter net profit, per The Tribune

₹7,765 crore

Read the source

• Jio Platforms Q2 results: Profit rises 14% YoY to ₹8,389 crore, ARPU improves to ₹218.8/user; EBITDA margin up 250 bpsUpstox
• Jio Platforms' Q2 net profit rises 13.7% to Rs 8,389 cr after successful IPO listingThe Tribune