Reliance Jio Q4 Results: Net Profit Up By 13% The net profit stood at INR 5,337 crore during the quarter compared with INR 4,716 crore reported during the year ago period
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Reliance Jio Infocomm, the telecom business of Reliance Industries, reported a 13.2 per cent increase in profit during the quarter ending March 2024. The net profit stood at INR 5,337 crore during the quarter compared with INR 4,716 crore reported during the year ago period. On a sequential basis the net profit growth however was lower at 2.47 per cent.
The company's revenue from operations increased about 11 per cent in the period, while its total expenses grew at 10.2 per cent.
The Earnings Before Interest Tax Depreciation and Amortisation ( EBITDA) stood at INR 13,612, grew 11.48 per cent over INR 12,210 during the year ago period. However on a sequential basis the EBITDA rose 2.5 per cent.
Mukesh D. Ambani, chairman and MD, Reliance Industries Limited said, "Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services. With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation's digital infrastructure.
Akash M Ambani, Chairman of Reliance Jio Infocomm said, "Jio continues to maintain its network leadership and offer innovative digital solutions to multiple customer cohorts. This is driving consistent outperformance in terms of subscriber additions and engagement levels. Continued acceleration in growth of the JioAirFiber subscriber base and ramp-up of digital services will sustain industry-leading growth for Jio."
Average revenue per user (ARPU) was INR 181.7 with better subscriber mix partially offset by increasing mix of promotional 5G traffic. Engagement levels continued to remain strong with total data and voice traffic increasing by 35.2 per cent and 9.7 per cent YoY, respectively.
