Reliance Jio Q4 results: RJio reports 13.2% rise in profit to Rs 5,337 crore

Reliance Jio Q4 results: Reliance Jio Infocomm, the telecom arm of Reliance Industries, announced a 13.2% increase in its fourth-quarter profit on Monday, driven by consistent growth in subscriber additions. The company’s net profit rose to 53.37 billion rupees ($640.2 million) for the January-March quarter, compared to 47.16 billion rupees in the same period last year.

Jio’s revenue from operations grew by approximately 11% to 259.59 billion rupees during the quarter, while its total expenses increased at a slightly slower rate of 10.2%. Three analysts had projected revenue to be between 258 billion rupees and 261.29 billion rupees, stated a Reuters report.

Later in the day, along with parent company Reliance’s results, Jio will release its average revenue per user (ARPU) and subscriber addition figures. Five analysts estimate that Jio, the first Indian telecom operator to report quarterly results, added between 7 million and 14 million subscribers in the January-March period, building on its subscriber base of 470.9 million at the end of the previous year.

According to five analysts, Jio’s ARPU is expected to fall within the range of 181-184 rupees. In the year-ago quarter, its ARPU was 178.8 rupees, and in the preceding quarter, it was 181.7 rupees – higher than Vodafone Idea but lower than Bharti Airtel. The three companies have not increased tariffs since 2021, and analysts anticipate the next hike will occur in mid-2024, following the country’s general elections.

In the previous year, Jio introduced a 4G budget-friendly phone called Jio Bharat and wireless broadband service Jio AirFiber to stimulate user growth.

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