Jio posts 15.6 pc growth in net profit to Rs 4,984 cr in Q4

Mumbai (Maharashtra) [India], April 21 : Jio Platforms on Friday posted a 15.6 per cent growth in its net profit to Rs 4,984 crore for the quarter ended March 31, 2023, against Rs 4,313 crore in the year-ago period.

The telecommunication firm's gross revenue went up 14.3 per cent to Rs 29,871 crore in the reviewed quarter, against Rs 26,139 crore in the corresponding quarter the previous year. Its revenue from operations rose 14.4 per cent to Rs 25,465 crore, against Rs 22,261 crore in the year-ago period, according to a statement shared with stock exchanges.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) jumped 16.9 per cent to Rs 12,767 crore, in the reviewed quarter against Rs 10,918 crore in the year-ago period.

According to the annual figures, the net profit was Rs 19,124 crore in 2022-23 (FY23) against Rs 15,487 crore in the previous year.

According to the statement, customer base rose 7.1 per cent to 439.3 million in the fourth quarter, against 410.2 million. The average revenue per user (ARPU) went up 6.7 per cent to Rs 178.8 in the reviewed quarter, against Rs 167.6 in the year-ago period.

Data traffic surged 23.2 per cent to 30.3 billion GB, against 24.6 billion GB in the year-ago period.

During the quarter, Jio announced a new home broadband "Back-up Plan" which offers 10 Mbps unlimited home broadband at Rs 198 per month and unlimited landline voice call. In addition, users can upgrade broadband speed instantly with one-click using vouchers starting at Rs 21 per day.

During the quarter, Radisys Corporation, a wholly-owned subsidiary of Jio Platforms Limited, announced the acquisition of Mimosa Networks for USD 60 million on a debt-free and cash-free basis.