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Published: April 23, 2024
Updated: April 23, 2024

Reliance Jio Surges: Profits Soar by 13.2% in Q4, Revenue Up 11%

Reliance Jio Infocomm, the telecommunications arm of Reliance Industries, has reported impressive financial results for the fourth quarter of the fiscal year 2023-24 (Q4FY24). With a notable 13.2% rise in standalone net profit and an 11% increase in revenue, Jio continues to strengthen its position in the telecom sector.

Financial Performance:

In Q4FY24, Reliance Jio recorded a standalone net profit of Rs 5,337 crore, marking a significant 13.2% increase from the same period in the previous year. Revenue from operations also saw a commendable uptick, reaching Rs 25,959 crore, reflecting an 11% growth compared to the previous year.

Operational Highlights:

Despite the growth in revenue, total expenses for the quarter increased at a slightly slower pace of 10.2% year-on-year, demonstrating efficient cost management strategies implemented by the company. Sequentially, both net profit and revenue witnessed marginal yet positive growth, underscoring Jio's consistent performance.

Annual Consolidated Performance:

For the entire financial year 2023-24, Reliance Jio reported a consolidated net profit of Rs 20,607 crore, marking a robust 12.6% increase from the previous fiscal year. Consolidated revenue from operations surpassed the Rs 1 lakh crore mark, indicating sustained growth and market dominance.

Industry Positioning:

Analysts predict Reliance Jio's average revenue per user (ARPU) to remain competitive, ranging between Rs 181-184. With innovative offerings like the Jio Bharat phone and Jio AirFiber wireless broadband, the company aims to further expand its subscriber base and enhance user experience.

Reliance Jio's Q4 results underscore its resilience and strategic positioning in the telecom landscape. With robust financial performance, efficient operations, and innovative offerings, Jio continues to set new benchmarks in the industry, poised for sustained growth and market leadership.