Reliance Jio Q3 profit rises by 28% to ₹4,638 cr: Key highlights
2 min read . Updated: 20 Jan 2023, 05:41 PM IST
Premium- During Q2FY23, the RIL-backed telco recorded a net profit of ₹4,518 crore and revenue of ₹22,521 crore. EBITDA in this quarter stood at ₹12,011 crore.
Telecom giant, Reliance Jio posted double-digit growth in both the top-line and bottom-line front during the quarter ending December 31, 2022 (Q3FY23) period. In the third quarter, Jio garnered a net profit of ₹ ₹4,638 crore, rising by 28.29% compared to a profit of ₹3,615 crore in the same quarter last year. Sequentially, Jio's profitability witnessed a marginal upside of 2.65%.
Jio posted a net profit of ₹4,518 crore in September 2022 quarter.
During the third quarter of FY23, Jio posted a revenue of ₹22,998 crore as against ₹19,347 crore -- recording a growth of 18.87%. From revenue of ₹22,521 crore in September 2022 period, the growth is around 2.11% in Q3FY23.
Also, in Q3FY23, Jio's value of services stood at ₹27,055 crore higher than ₹22,769 crore in Q3FY22 and ₹26,519 crore.
For the nine months period of FY23, the company's PAT posted a growth of 26.75% to ₹13,491 crore as against ₹10,643 crore in 9M of FY22. Revenue from operations jumped by 20.18% to ₹67,392 crore in 9MFY23 compared to ₹56,076 crore in the corresponding period of the previous fiscal.
As of December 31, 2022, Jio's net worth (including retained earnings) rose to ₹2,11,281 crore.
Jio's parent Reliance Industries will also announce its third quarter results for FY23 along with Reliance Retail later in the day.
Earlier this week, RJio announced the launch of its True 5G services across 16 cities namely Kakinada, Kurnool (Andhra Pradesh), Silchar (Assam), Davanagere, Shivamogga, Bidar, Hospet, Gadag-Betageri (Karnataka), Malappuram, Palakkad, Kottayam, Kannur (Kerala), Tiruppur (Tamil Nadu), Nizamabad, Khammam (Telangana), and Bareilly (Uttar Pradesh). Jio has become the first and the only operator to launch 5G services in the majority of these cities.
Reliance Jio Infocomm, a subsidiary of Jio Platforms Limited, has built a world-class all-IP data-strong future-proof network with 4G LTE technology. The network is 5G ready with no legacy infrastructure and an indigenous 5G stack. It is the only network conceived as a Mobile Video Network from the ground up. It is future-ready and can be easily upgraded to support even more data, as technologies advance to 6G and beyond.