Reliance Jio Infocomm, the telecom subsidiary of Reliance Industries, reported a stellar net profit of Rs 18,207 crore for financial year 2022-23, up 22.9 percent from a year ago on back of strong revenue growth and an improvement in margins.
The company reported revenues of Rs 90,786 crore for FY23, up 17.9 percent from a year ago. Earnings before interest, taxes, depreciation and amortisation, or EBITDA, rose 24.2 percent to Rs 47,034 crore as margins rose 2.6 percentage points to 51.8 percent.
In the quarter ended March 2023, the company reported a net profit of Rs 4,716 crore for the quarter ended March 31, 2023, up 13 percent from the year-ago period. The company had reported a net profit of Rs 4,638 crore in the December 2022 quarter.
Revenue from operations came in at Rs 23,394 crore, rising 12 percent YoY from Rs 20,901 crore in the corresponding quarter last year, Reliance Jio said. Revenue stood at Rs 22,998 crore in Q3FY23.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 12,210 crore, up 2 percent quarter-on-quarter (QoQ) and 16 percent YoY. EBITDA margin came in at 52.2 percent expanding 1.7 percent YoY and remaining flat quarterly. EBITDA stood at Rs 10,554 crore in the corresponding quarter of the last fiscal year.
Jio Platforms
Jio Platforms (JPL), holding company of the telecom and digital services business of RIL, reported a 23.5 percent YoY growth in net profit to Rs 19,124 crore for FY23.
Revenue from operations stood at Rs 98,099 crore, up 20.2 percent. However, the stellar revenues of Rs 25,465 crore in the March quarter meant that JPL's annualized revenue rate (ARR) stands over Rs 1 lakh crore.
In the March quarter, JPL's revenues and EBITDA grew at a strong 14 percent and 17 percent respectively.
Overall net subscriber addition for FY23 stood at a robust 29 million with total subscriber base standing at 439.3 million for the year ending March 2023.
On the 5G front, accelerated efforts could be witnessed with the company now holding around 80 percent share of BTS (base transceiver station) deployment by the Industry. It has deployed more than 125,000 5G BTS in over 2,300 cities/towns with a target for a complete Pan India 5G rollout by December 2023.
Increased 5G/FTTH adoption was also seen with the total data traffic on Jio network crossing 10 Exabytes/month and increasing to 30.3 Exabytes for Q4FY23, up 23 percent YoY.
"Jio continues to digitally empower millions of citizens across the nation, extending True 5G reach to 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," said Mukesh Ambani, Chairman and MD, RIL.
On the fixed broadband segment, connected premises stood over 9 million with 90 percent of new connections being postpaid users.
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