Reliance Jio Reports Strong Q4 Results
Reliance Jio, the telecom arm of Reliance Industries, has announced its financial results for the fourth quarter of the fiscal year 2023-24 (Q4FY24), showcasing impressive growth in net profit and revenue.
Standalone Net Profit Rises 13.2% Year-on-Year
Reliance Jio Infocomm has recorded a significant 13.2% year-on-year increase in standalone net profit, reaching Rs 5,337 crore for the quarter ending on 31st March. This marks a substantial improvement compared to the net profit of Rs 4,716 crore reported during the same period last year (Q4FY23).
Revenue Witnesses Robust Growth
The telecom giant’s revenue from operations has witnessed a commendable growth of approximately 11%, amounting to Rs 25,959 crore in Q4FY24. This signifies a notable increase compared to the revenue of Rs 23,394 crore reported in the corresponding period of the previous year.
Expense Growth Remains Moderate
Despite the surge in revenue, Reliance Jio’s total expenses grew at a slightly slower pace of 10.2% year-on-year, reaching Rs 18,917 crore in Q4FY24. This compares to Rs 17,172 crore in the same quarter of the previous fiscal year (Q4FY23).
Sequential Growth in Net Profit and Revenue
Sequentially, Reliance Jio’s net profit witnessed a marginal increase of 2.47% from Rs 5,208 crore reported in the previous quarter. Similarly, revenue from operations grew by 2.32% from Rs 25,368 crore reported in Q3.
Consolidated Performance for FY24
For the entire financial year 2023-24, Reliance Jio reported a consolidated net profit of Rs 20,607 crore, marking a notable increase of 12.6% compared to Rs 18,299 crore reported in FY23. Additionally, consolidated revenue from operations stood at Rs 1,00,891 crore, reflecting a robust growth of 10% year-on-year.
Analyst Expectations and ARPU
Analysts anticipate Reliance Jio’s average revenue per user (ARPU) to remain in the range of Rs 181-184. This represents an improvement from Rs 178.8 reported during the same period last year and Rs 181.78 in the previous quarter. However, it remains lower than competitors such as Bharti Airtel.
Strategic Initiatives and User Growth
Reliance Jio’s strategic initiatives, including the launch of the budget-friendly 4G phone called Jio Bharat and wireless broadband service Jio AirFiber, have contributed to user growth and market penetration. The company continues to innovate and expand its offerings to maintain its competitive edge in the telecom sector.
Reliance Jio has delivered strong financial results for the fourth quarter of the fiscal year 2023-24, with significant growth in net profit and revenue. The company’s strategic initiatives and focus on user growth have contributed to its success in a competitive market landscape. As Reliance Jio continues to evolve and expand its services, it remains poised for further growth and success in the telecommunications sector.
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