Reliance Jio Q3 results: Net profit at Rs 3,615 crore, ARPU at Rs 151.6; beats estimates

Also Read: RIL Q3 Results: Oil and gas revenue jumps 250 percent QoQ to record Rs 2,559 crore

The third quarter of FY22 saw Reliance Jio's subscriber base at 429.5 million, with 10.2 million new customers. The total data traffic was 23.4 billion GB during the quarter; a 47.8 percent growth YoY. Total voice traffic was 1.15 trillion minutes during the quarter; 17.9 percent growth YoY.

Jio and Google announced the launch of JioPhone Next during the quarter. This is the most affordable smartphone anywhere in the world with an entry price of only Rs 1,999 and the rest paid via easy EMI over 18/24 months. A unique financing option like this is introduced for the first time for a device in this category, making it accessible for a much wider set of consumers, the company said.

Data-driven network planning for Jio’s 5G network is underway based on targeted customer consumption and revenue using Heat maps, 3D maps, and Ray tracing technology for precise coverage planning to target high consumption and high perception locations.

5G coverage planning has been completed for 1,000 top cities across the country. Jio has been doing trials on advanced use cases across Healthcare and Industrial Automation on its 5G network.

It has partnered with the National Payments Corporation of India (NPCI) for the UPI auto-debit facility for its customers. This will enable Jio customers to set standing instructions on the MyJio app using UPI Autopay for their preferred tariff plans and a seamless recharging experience.

Jio has prepaid Rs 30,791 crore clearing all deferred spectrum liabilities acquired in auctions prior to March 2021 which will result in an interest cost saving of Rs 1,200 crore annually, the company said.

"Jio undertook a 20 percent hike across prepaid plans. The full impact of a tariff hike to be reflected in ARPU and financials over the next few quarters," the company said.

Also Read: Reliance Retail Q3 Results: Revenue jumps record 52.5% to Rs 57,714 crore beating street estimates

Retail business activity has normalized with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country. Our digital services business has delivered broad-based, sustainable, and profitable growth through improved customer engagement and subscriber mix."