Reliance Jio posts Rs 5,208 Crore profit for Q3; a 12.3% YoY increase
January 19, 2024
Mumbai: Reliance Jio Infocomm Ltd, posted a 12.3% growth in net profit for the December quarter, totaling Rs 5,208 crore, as more users opted for the company’s mobile phone services.
The company added 11.2 million users during the quarter, reaching a total of 470.9 million.
Revenue from operations increased by 10.3%, reaching Rs 25,368 crore.
Total data traffic on the Jio network surged by 32% to 38.1 exabytes in the December quarter.
Jio Platforms Ltd, the parent company of India’s largest mobile phone operator, reported an 11.6% increase in fiscal third-quarter profit to Rs 5,445 crore compared to the same period last year.
During the three months ending December 31, gross revenue experienced an 11.4% rise, reaching Rs 32,510 crore. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter stood at ₹13,955 crore, up 11.5% year on year.
Akash M Ambani, Chairman of Reliance Jio Infocomm, said, “Jio has accomplished the fastest rollout of a 5G network witnessed anywhere in the world and is now available across India. JioAirFiber has seen strong initial demand and customer engagement, especially in underserved tier 3/4 towns and rural areas. Jio’s ahead-of-the-curve investments in the next-generation network, digital technologies, and tailor-made products for all customer cohorts will ensure sustainable industry-leading growth in the coming years.”
Reliance Jio’s average revenue per user (ARPU) per month improved by 2% to Rs 181.7, attributed to a better mix of subscribers.
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