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Reliance Jio’s Fourth Quarter Net Profit Surges by Over 13% to Rs 5,337 Crore

Reliance Jio Reports Fourth-Quarter Profit Surge

Editor Ritam English by Editor Ritam English
Apr 22, 2024, 08:35 pm IST
Reliance Jio's Fourth Quarter Net Profit Surges by Over 13% to Rs 5,337 Crore

Reliance Jio's Fourth Quarter Net Profit Surges by Over 13% to Rs 5,337 Crore

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Reliance Jio Infocomm, a major player in Bharat’s telecom sector, has announced a significant rise in its fourth-quarter profit. The telecom giant, a part of Reliance Industries, saw its net profit increase by 13.2% to 53.37 billion rupees ($640.2 million) in the January-March quarter compared to the same period last year. This growth was fueled by a continued increase in subscriber numbers.

Reliance Jio reported a robust 11% growth in its operations, reaching 259.59 billion rupees in the fourth quarter. Despite the rise in revenue, the company managed to keep its total expenses in check, with an increase of 10.2%, indicating efficient cost management strategies.

Market expectations were largely met, with analysts predicting revenue figures ranging from 258 billion rupees to 261.29 billion rupees for the quarter. This consistency in meeting expectations reflects the stability and predictability of Reliance Jio’s performance in the market.

Later in the day, Reliance Jio is set to reveal crucial metrics like its average revenue per user (ARPU) and subscriber additions, alongside its parent company Reliance Industries’ results.

ARPU, a key performance indicator for telecom companies, is closely watched by analysts and investors to gauge the company’s financial health and customer engagement.

Analysts estimate that Reliance Jio added between 7 million to 14 million subscribers during the January-March period, reinforcing its position as Bharat’s largest telecom carrier with 470.9 million subscribers by the end of last year.

Moreover, there’s anticipation surrounding Reliance Jio’s ARPU figures, with expectations ranging from 181 to 184 rupees, according to analysts’ projections. This metric is crucial for understanding how much revenue the company generates per user and its ability to monetize its subscriber base effectively.

In past , Reliance Jio has launched initiatives like the Jio Bharat 4G phone and Jio AirFiber wireless broadband service to attract more users and drive growth. These efforts, coupled with the sustained increase in subscriber numbers, indicate a positive trajectory for the company in the fiercely competitive Indian telecom market.

Looking ahead, industry experts suggest that the next tariff increase in the telecom sector may come around mid-2024, following the general elections in the country. Despite the absence of tariff hikes since 2021, Reliance Jio’s strong performance in the fourth quarter underscores its resilience and ability to thrive in challenging market conditions.

Tags: RelianceTelecomReliance Jio
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