Reliance Jio Q4 Results: Net Profit Rises 15.4 Per Cent QoQ To Rs 4,173 Crore
Jio's revenues for the quarter grew 8 per cent sequentially to Rs 20,901 crore
New Delhi: Reliance Jio, the telecom subsidiary of Reliance Industries (RIL), on Friday clocked a 15.4 per cent quarter-on-quarter (QoQ) rise in net profit at Rs 4,173 crore for the quarter ended March, according to the statement released by Jio.
The telco’s revenues for the quarter grew 8 per cent sequentially to Rs 20,901 crore.
Jio, India’s largest telecom operator, logged higher-than-expected revenues, gaining from industry-wide tariff hikes last year.
The company reported earnings before tax, depreciation, and amortisation (Ebitda) at Rs 10,510 crore versus an expectation of Rs 10,500 crore. The Ebitda margin comes at 50.3 per cent versus the poll reading of 50.5 per cent.
In a filing to the stock exchanges, Reliance Jio said, on a year-on-year (YoY) basis the company's profit was up 24 per cent.
The telco’s standalone revenue from operations rose over 20 per cent to Rs 20,901 crore, from Rs 17,358 crore in the March quarter.
Reliance Jio's consolidated PAT, for the financial year ended March 31, 2022, increased by about 23 per cent to Rs 14,854 crore, compared to Rs 12,071 crore in FY21.
Jio’s annual revenue from operations grew by about 10.3 per cent to Rs 77,356 crore in 2021-22, from Rs 70,127 crore a year ago.
The stocks of Reliance Industries on Friday settled at Rs 2,621, down 0.74 per cent on the BSE.
On the other hand, Reliance Industries is also expected to report bumper earnings in Q4, led by its refining, telecom, and retail business despite the petrochemical operations may have seen some weakness.
According to news reports, the conglomerate is expected to post a 38 per cent YoY rise in consolidated net profit at Rs 17,167 crore for the quarter ended March, 2022.
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