Reliance Jio Q4: Net Profit Rises 13 Per Cent To Rs 4,716 Crore, Revenue Climbs Nearly 12 Per cent

Jio's revenue from operations climbed by nearly 12 per cent to Rs 23,394 crore in the reported quarter from Rs 20,945 crore in the quarter ending March 2022. In Q3 it stood at Rs 22,998 crore. 

Reliance Jio Infocomm, the telecom subsidiary of Reliance Industries, on Friday, reported a 13 per cent increase in net profit to Rs 4,716 crore for the fourth quarter that ended March 31, 2023, compared to a net profit of Rs 4,173 crore in the year-ago period, the company said in a regulatory filing.

Jio's revenue from operations climbed by nearly 12 per cent to Rs 23,394 crore in the reported quarter from Rs 20,945 crore in the quarter ending March 2022. In Q3, it stood at Rs 22,998 crore. 

The company's net profit increased by almost 23 per cent to Rs 18,207 crore during the fiscal year that ended on March 31, 2023, from Rs 14,817 crore in 2021–2022.

In the fiscal year 2022-23, operating revenue increased by roughly 18 per cent to Rs 90,786 crore from Rs 76,977 crore in 2021–2022.

The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA), was Rs 12,210 crore, up 2 per cent quarter-on-quarter (QoQ) and 16 per cent year on year (YoY) EBITDA margin was 52.2 per cent, up 1.7 per cent year over year and unchanged on a quarterly basis. In the same quarter of the prior fiscal year, EBITDA was Rs 10,554 crore.

"5G has led to a significant improvement in customer experience, reflected in the higher engagement levels among Jio users. Jio remains committed to build a robust digital society with tailormade technology platforms which will drive sustained growth in earning and value for all stakeholders," Reliance Jio Infocomm Chairman Akash Ambani said.

“I am happy to note Reliance’s initiatives in digital connectivity and organized retail are driving greater efficiencies in the economy and contributing to India’s emergence as one of the fastest growing economies in the world,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries.

Furthering its commitment to enable 5G for all, Jio has extended coverage of its True5G services to over 2,300 cities/ towns across India. Jio users in these cities are invited to experience unlimited data at up to 1 Gbps+ speeds, under the Jio Welcome offer, the company stated.

Jio's net subscriber addition was 29.2 million for FY23 with monthly churn remaining stable at nearly 2 per cent.  Average Revenue Per Unit (ARPU) increased 6.7 per cent year over year due to the impact of the tariff hike, better subscriber mix, and data add-ons within select customer cohorts.