BackReliance Jio Q1 results: Net profit jumps nearly 24% to ₹4,335 crore
Reliance Jio Q1 results: The company registered a net profit of ₹4,335 crore in the quarter ending June 30, 2022 (Q1FY22) compared to a PAT of ₹3,501 crore in the same quarter last year. Q1 PAT is marginally up from the ₹4173 crore profit witnessed in Q4 of last fiscal.
PremiumTelecom giant, Reliance Jio registered a net profit of ₹4,335 crore in the quarter ending June 30, 2022 (Q1FY22) compared to a PAT of ₹3,501 crore in the same quarter last year - recording a growth of 23.82%. Q1 PAT is marginally up from the ₹4173 crore profit witnessed in Q4 of last fiscal. Standalone revenue from operations came in at ₹21,873 crore in the quarter under review, rising by 21.56% from ₹17,994 crore in Q1 a year ago, and also jumped by 4.65% against ₹20,901 crore in the preceding quarter.
In Q1FY23, the company's value of services was at ₹25,725 crore up by 21.41% from ₹21,189 crore in Q1FY22 and higher by 4.56% from ₹24,602 crore in Q4FY22.
Total expenses jumped to ₹16,137 crore in Q1FY23 against ₹13,313 crore in Q1FY22 and ₹15,353 crore in Q4FY22.
RJio's margin improved to 50.1% in Q1FY23 compared to 47.9% in the corresponding period last year. However, margins edged lower from 50.3% in Q4FY22.
As of June 30, 2022, the company's net worth is around ₹2,02,132 crore compared to ₹1,86,475 crore as of June 2021. By end of the March 2022 quarter, the net worth was around ₹1,97,790 crore.
"The Company continues to invest in augmentation of the wireless and wireline network capacity," RJio said in its audit report.
During the quarter, RJio's ARPU stood at ₹175.7 per subscriber per month and saw a healthy 27.0% growth on yoy basis and 4.8% growth on qoq basis. APRU was driven by higher customer engagement.
Meanwhile, total data traffic was 25.9 billion GB during the quarter -- a 27.2% growth yoy. Further, total voice traffic was 1.25 trillion minutes during the quarter - a 17.2% growth yoy. During Q1FY23, average data and voice consumption per user per month increased to 20.8 GB and 1,001 minutes, respectively.
Notably, net subscriber addition witnessed a strong rebound to 9.7 million driven by continued strength in gross adds (35.2 million in Q1FY23) and reduced SIM consolidation impact.
In the first quarter of FY23, Jio continued to extend its leadership position in FTTH services with further acceleration in homes connected. As per industry data published by TRAI, Jio has over 80% market share of new customer additions in wireline segment.
RJio had also launched long term bundled plans for JioBusiness offering superior customer value at zero entry cost, paperless digital onboarding in the quarter.
RJio is mainly engaged in the business of providing Digital Services.
For the full year FY22, Reliance Jio's standalone PAT jumped to ₹14,817 crore against ₹12,015 crore in FY21. Revenue advanced to ₹76,977 crore as of March 31, 2022, compared to ₹69,888 crore as of March 31, 2021.
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