Reliance Jio Q4 Results; Net Profit Up 13% Y-O-Y

Reliance Jio Q4 Results; Net Profit Up 13% Y-O-Y Image/iStock

VoM News Desk | April 22, 2024 | 06:21 PM IST | Breaking News | Follow on Google News

Reliance Jio Q4 Results; Net Profit Up 13% Y-O-Y

Reliance Jio Q4 Results; Net Profit Up 13% Y-O-Y

Reliance Jio reported a net profit of ₹5,337 crore in Q4, marking a 13% year-on-year increase. However, sequential growth was modest, with a 2.47% rise compared to the previous quarter.

Revenue and EBITDA Performance

The company’s revenue for the quarter stood at ₹25,959 crore, reflecting a 10.96% growth year-on-year. Sequentially, revenue growth was marginal, reaching ₹25,368 crore. Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) grew to ₹13,612 crore, up by 11.48% compared to the same quarter last year. Sequential growth in EBITDA, however, was softer, increasing by 2.5%.

Analyst Expectations and Annual Performance

Analysts at JM Financial Securities anticipated Jio’s EBITDA growth in line with expectations, predicting a 2-3% sequential increase. The company’s strong subscriber additions and growth in Average Revenue per User (ARPU) from MBB upgrades were key drivers.

For the fiscal year ending March 2024, Reliance Jio’s revenues from operations reached ₹1,00,891 crore, marking a 10.4% growth compared to the previous year. The net profit for FY24 witnessed a notable rise of 11.48%, reaching ₹20,607 crore compared to ₹18,424 crore in FY23.

Source: Mint.

VoM News Desk

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