Jio Platforms shares jumped 3% on Monday after the company reported strong Q2 results. The stock opened at ₹1,465 following its October 28 market debut. Revenue grew 11% to ₹40,475 crore, while net profit rose 8% from the June quarter. The firm also added 9.1 million subscribers during this period.
Jio Platforms share price rose as much as 3% in Monday's trading session after the company reported its first quarterly results on Friday after strong listing last week.
Jio Platforms shares opened at ₹1,465 apiece today, as compared to previous close of ₹1,431 on Friday last week and touched an intraday high of ₹1,475 on 2 November.
The results follow Jio Platforms' stock market debut on October 28, when its shares listed at ₹1,358 apiece, marking a 21.36% premium over the IPO issue price of ₹1,119.
Revenue from operations increased 11% YoY to ₹40,475 crore from ₹36,332 crore in the corresponding quarter last year. On a quarter-on-quarter (QoQ) basis, net profit grew 8% from ₹7,765 crore reported in the June quarter, while revenue registered a 3% increase.
The company's EBITDA rose 17% YoY during the quarter, supported by higher revenue, operating leverage and improved margins. EBITDA margin expanded by 250 basis points to 54.1%. Meanwhile, ARPU edged up to ₹218.8 in Q2, as promotional offers for fixed broadband customers partially offset the benefits of a favourable subscriber mix and increased data usage.
On the operational front, monthly per-user data consumption stood at 44.2 GB, while overall data traffic increased 22% YoY during the September quarter. Monthly subscriber churn remained stable at 1.6%, and Jio added 9.1 million net subscribers during the period.
At the end of September, Jio's 5G subscriber base reached 300 million, marking an addition of 66 million users over the past 12 months. Customer engagement remained robust, with 5G users accounting for 56% of the company's total wireless data traffic.