Reliance Jio Posts 13% Jump In Net Profits To Rs 4716 Crores, Beats Estimates

Reliance Jio, the telecom arm of Reliance Industries posted a jump in net profits to Rs 4,716 crores for the fourth quarter ending March 31, 2023, largely beating estimates.

Reliance Jio reported an operating revenue of Rs 23,394 crore, a 12% year on year growth from Rs 20,901 crore in the same period last year, and a single digit growth of 1.2% over Q3FY23's revenue of Rs 22,998 crore. The operating revenue of the company came in as per estimates.

Jio's operating margin expanded by 26.2% for Q4FY23, it was down from last year's 27.5% same quarter and sequentially it was similar to Q3FY23's margin of 26.6%.

Reliance Jio's profit after tax (PAT) has risen to Rs 4716 crore, a jump of 1.68% from previous quarter's PAT of Rs 4,638 crore. It has grown by nearly 13.01% over last year's PAT of Rs 4,173 crore.

Further it was reported that the net profit margin has been of the company has been consistent at nearly 17.1%.

On consolidated basis the operating revenue for full year was up by 18.12% to Rs 91,373 crore from Rs 77,356 crore over same period last year. While the PAT stood at Rs 24,565 crore, it rose by 22.94% over a year. Also, it was seen that the operating margin and net profit margin expanded by 26.5% and 17% respectively for the full year.

The shares of the parent company, Reliance Industries last closed at Rs 2348.90 on the Bombay Stock Exchange. The company's license fee and spectrum charges dropped to Rs 2,155 crore, down 14% year-on-year, compared with Rs 2,504 crore in the year-ago period.