Jio Platforms Q4 net profit rises 16 pc to Rs 4,984 cr

New Delhi: RIL’s digital services arm Jio Platforms Friday reported a 15.6 per cent rise in net profit to Rs 4,984 crore for the fourth quarter ended March 2023, the company said in a regulatory filing.
The company reported a net profit of Rs 4,313 crore in the same quarter a year ago.
Its revenue from operations in the reported quarter increased by 14.4 per cent to Rs 25,465 crore from Rs 22,261 crore in the March 2022 quarter.
The company’s annual revenue crossed Rs 1 lakh crore in 2022-23.
“Jio has taken formidable strides in pioneering 5G rollout across the country with the unmatched speed of execution. 5G has led to a significant improvement in customer experience, reflected in the higher engagement levels among Jio users.
“Jio remains committed to build a robust digital society with tailormade technology platforms, which will drive sustained growth in earning and value for all stakeholders,” Reliance Jio Infocomm Chairman Akash M Ambani said in a statement.
Jio said it has already deployed around 60,000 sites for 5G services across 700MHz and 3500MHz bands and is on track to complete the pan India rollout by December 2023.
The average revenue per user (ARPU) increased 6.7 per cent to Rs 178.8 from Rs 167.6 in the March 2022 quarter.
However, the APRU, a key parameter to measure the growth of telecom companies, remained almost flat on a sequential-quarter basis.
“ARPU increased 6.7 per cent y-o-y due to impact of the tariff hike, better subscriber mix and data add-ons within select customer cohorts,” the report said.
For the year ended March 31, 2023, the company’s net profit rose 23.48 per cent to Rs 19,124 crore from Rs 15,487 crore in 2021-22.
“Healthy growth in Revenue from operations was led by the full impact of the tariff hike, ramp-up of wireline services and continued subscriber addition for mobility services,” Jio Platforms (JPL) said in its earning report.
The annual revenue from operations increased by about 20 per cent to Rs 1,15,099 crore in the last fiscal compared to Rs 95,804 crore in 2021-22.
The customer base of the company grew 7.1 per cent to 43.93 crore at the end of 2022-23 from 41 crore in 2021-22.
The data consumption in JPL networks rose 23.2 per cent to 30.3 billion gigabytes from 24.6 billion in the March 2022 quarter.
“Jio continues to digitally empower millions of citizens across the nation, extending True 5G reach to over 2,300 cities and towns in a short span of 6 months. With steady growth in mobility and FTTH subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits,” the report said.
JPL telecom subsidiary Reliance Jio Infocomm reported a 13 per cent increase in net profit to Rs 4,716 crore on a standalone basis for the fourth quarter ended March 2023, the company said in a regulatory filing.
Reliance Jio posted a net profit of Rs 4,173 crore in the year-ago period.
Its revenue from operations in the reported quarter increased by about 12 per cent to Rs 23,394 crore from Rs 20,945 crore in the March 2022 quarter.
For the year ended March 31, 2023, the company’s net profit rose about 23 per cent to Rs 18,207 crore on a standalone basis from Rs 14,817 crore in 2021-22.
The annual revenue from operations grew by about 18 per cent to Rs 90,786 crore in the last fiscal compared to Rs 76,977 crore in 2021-22.