The company had posted a net profit of ₹1,322 crore in the previous quarter.
EBITDA declined 25% to ₹1,303 crore from ₹1,738 crore in the preceding quarter. The company said a year-on-year comparison is not applicable as the JioStar merger was effective only from November 14, 2024.
Revenue from operations, however, rose 12% to ₹6,896 crore from ₹6,179 crore in the previous quarter, driven by growth across sports and entertainment.
For the nine-month period, the company reported a net profit of ₹2,791 crore, EBITDA of ₹4,058 crore and revenue of ₹22,676 crore.
Commenting on the performance, JioStar CEO (entertainment) Kevin Vaz said the company’s financial performance was healthy in spite of a tough macroeconomic environment and a strong performance in subscription revenue across both digital and TV.
“Our digital entertainment revenue hit record highs, driven by connected TV and focused content monetisation,” he added.
Vaz said the television advertising environment remains under pressure. “The TV ad market continues to be challenging due to spending cuts from FMCG and consumer electronics,” he said, adding that there were early signs of improvement.
“But the good part is post-GST, the December month has shown great signs of recovery, and we are hoping that continues as we go forward.”
During the quarter, the television network reached over 830 million viewers, delivering more than 60 billion hours of watch time. The network’s TV entertainment viewership share improved by 100 basis points year-on year to 34.6%.
JioHotstar averaged 450 million monthly active users during the quarter, up 13% quarter-on-quarter and almost on a par with the Indian Premier League quarter.
