Reliance Jio’s Fourth Quarter Results: Profit Surges Over 13% to Reach ₹5,337 Crore

Reliance Jio Infocomm, the telecom arm of Reliance Industries Ltd (RIL), revealed a notable 13.17% increase in its fourth-quarter profit (Q4 FY24), driven by continuous growth in subscriber numbers.

The telecom giant reported a net profit of ₹5,337 crore for the January-March quarter, compared to ₹4,716 crore in the same period last year.

Revenue from operations witnessed a robust growth of around 11%, reaching ₹25,959 crore in Q4 FY24, while total expenses saw a 10.2% increase.

As of March 31, 2024, the company’s total assets stood at ₹4,87,405 crore, marking a rise from ₹4,45,772 crore in the previous year.

The net profit margin improved to 17.5% in Q4 FY24, up from 17.1% in the corresponding period last year.

Reliance Jio is actively establishing its 5G network and enhancing its existing wireless and wireline network capacity.

Further details such as average revenue per user (ARPU) and subscriber additions will be disclosed alongside parent RIL’s results later in the day.

Prabhudas Lilladher noted, “For Reliance’s standalone segment, refining margins are expected to improve, while petchem may face some pressure. We anticipate a 2% QoQ subscriber growth and a steady ARPU at ₹182 per month for Jio, while the retail segment is expected to maintain its resilient performance.”

RIL’s shares have risen by 14.39% in 2024, outperforming the BSE Sensex’s 1.90% increase. The BSE oil & gas index has surged by 23% during the same period.

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