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Reliance Jio Q4 Results: Net profit rises 13% Y-O-Y to ₹5337 crore
- Reliance Jio Q4 Results: Net profit rises 13% Y-O-Y to ₹5337 crore during the March'2024 quarter. On a sequential basis the net profit growth was soft at 2.47% compared ₹5208 Crore during the December'2023 quarter.
Reliance Jio Q4 Results: Reliance Jio Infocomm Ltd reported a 13.16 % y-o-y rise in net profit to ₹5337 crore during the quarter ending March'2024 over ₹4,716 Crore reported during the year ago quarter. On sequential basis the net profit growth however was lower at 2.47% compared ₹5208 Crore during the December'2024 quarter.
Reliance Jio revenue at ₹25,959 Crore during March quarter though grew 10.96% compared to ₹23,394 crore during the year ago quarter. On sequential basis nevertheless revenue growth was marginal compared to ₹25368 Crore during the December quarter.
The Earnings Before Interest Tax Depreciation and Amortisation ( EBITDA) at ₹13612 though grew 11.48 % over ₹12210 during the year ago quarter. However on sequential basis the Ebitda rose 2.5 per cent over ₹13,612 crore during in the December'2023 quarter.
The Ebitda growth nevertheless was in line or only marginally lower compared to analyst expectations, Analysts at JM Financial Securities had expected Jio and Bharti’s India wireless EBITDA to grow by 2-3% sequentially during Q4. The same was to be driven by strong subscriber additions and Mobile Broadband upgrades-led growth in ARPU (Average Revenue per User).
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Strong subscriber addition trend as per analysts was expected to continue driven by aggressive push of company's Jio Bharat phone, and JM Financial expects 10.5million net subs additions likely to have taken place during 4QFY24 . The Telecom Regulatory Authority of India (TRAI) data had showed 4.2 million subscriber addition for Jio in the month of January.
Its expected to be a 8th consecutive quarter of net subs addition, ranging 5-11 million per quarter since 1QFY23 (after having reported net decline of subscribers in prior three quarters i.e Q4FY22, Q3FY22 and Q2FY22 due to repurposing of customer retention efforts for low-ARPU subscribers, analysts had said..
Meanwhile for the year ended March 2024, Reliance Jio revenues from operations at ₹1,00,891 Crore grew 10.4% compared to ₹91,373 Crore in FY23. The Net Profit saw a good rise of 11.48% at ₹20,607 crore in FY24 over ₹18424 Crore in FY23
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Business NewsCompaniesCompany ResultsReliance Jio Q4 Results: Net profit rises 13% Y-O-Y to ₹5337 crore
First Published:22 Apr 2024, 05:32 PM IST
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