Reliance Jio Q4 net rises 15.4% sequentially to Rs 4,173 cr, up 24% YoY

Reliance Jio Infocomm, the telecom subsidiary of Reliance Industries, on Friday reported a 15.4 per cent quarter-on-quarter increase in net profit at Rs 4,173 crore for the quarter ended March.

The company's revenues for the quarter grew 8 per cent sequentially to Rs 20,901 crore, which was higher than a CNBC-TV18 poll of Rs 20,800 crore.

The company reported higher-than-expected revenues, gaining from industry-wide tariff hikes last year.

India's largest telecom operator reported earnings before tax, depreciation, and amortisation (EBITDA) at Rs 10,510 crore versus an expectation of Rs 10,500 crore.

The EBITDA margin comes at 50.3 per cent versus the poll reading of 50.5 per cent.

On a year-on-year basis the company's profit was up 24 per cent, Reliance Jio said in a filing.

The standalone revenue from operations were up over 20 per cent to Rs 20,901 crore, from Rs 17,358 crore in the March 2021 quarter.

For the financial year ended March 31, 2022, Reliance Jio's consolidated PAT increased by about 23 per cent to Rs 14,854 crore, compared to Rs 12,071 crore in FY21.

The annual revenue from operations grew by about 10.3 per cent to Rs 77,356 crore in 2021-22, from Rs 70,127 crore a year ago.