Reliance Jio reports 28.3 % rise in Q3 net profit to Rs 4,638 crore
January 20, 2023
Mumbai: Reliance Jio Infocomm, the technology and telecom subsidiary of Reliance Industries, reported a net profit of Rs 4,638 crore for the quarter ended December 31, 2022, up 28.3 percent from the year-ago period. The company had reported a net profit of Rs 3,615 crore in the same quarter last year.
Its revenue from operations came in at Rs 22,998 crore, rising 18.9 per cent YoY from Rs 19,347 crore in the corresponding quarter last year.
A strong net subscriber addition of 7 million was expected to boost Jio’s EBITDA by 3-4 per cent sequentially.
The company’s EBITDA came in at Rs 12,009 crore while the EBITDA margin was at 52.2 per cent. Brokerages had forecast an EBITDA of Rs 12,635 crore for the telecom major. DeshGujarat
Recent Stories
- Diwali Food Safety Drive: AMC Seals Two Units, Fines Four Outlets ₹40,000
- HDFC Bank Gets Govt Nod to Offer Deposits Under Capital Gains Accounts Scheme
- GSSSB Announces Recruitment for 1,237 Class-3 Posts; Applications Open on November 5
- AMC to Hike Parking Fees; Proposed New Rates Here
- Mumbai Mayor Ritu Tawde Meets Gujarat CM Bhupendra Patel
- Holiday Inn Resort to Come Up in Sasan Gir