Reliance Jio posts 13% rise in Q4 net profit at Rs 4,716 cr; ARPU rises marginally to Rs 178.8
RJio Q4 results: Revenue for the quarter came in at Rs 23,394 crore compared with Rs 20,901 crore in the corresponding quarter last year, the RIL arm said.
- Apr 21, 2023,
- Updated Apr 21, 2023 9:27 PM IST
Reliance Jio Infocomm, the telecom arm of Reliance Industries (RIL), reported a 13 per cent year-on-year (YoY) rise in net profit at Rs 4,716 crore for the March quarter compared with Rs 4,173 crore in the same quarter last year. On sequential basis, profit was up 1.7 per cent over December quarter's Rs 4,638 crore profit.
Revenue for the quarter came in at Rs 23,394 crore compared with Rs 20,901 crore in the corresponding quarter last year. Sales were up 11.9 per cent on YoY basis and 1.7 per cent on quarter-on-quarter basis. While the numbers came largely in line with analyst estimates, profit and revenue growth was slowest in five quarters, thanks to higher expenses and lack of recent tariff hikes.
Ebitda for the quarter stood at Rs 12,210 crore while Ebitda margin for the quarter came in at 52.19 per cent.
The revenue figure came in line with analyst projections. For RJio business, Nomura had estimated revenue at Rs 23,430 crore, up 12 per cent YoY. Emkay Global had expected revenue for Jio to grow 1.7 per cent sequentially (up 11.9 per cent YoY) at Rs 23,394 crore. The profit figure for Reliance Jio came slightly better than Nomura's Rs 4,690 crore forecast.
Jio Platforms reported a growth of 17% in EBITDA and improvement of 120 bps in margin year-on-year. Subscriber base continued to see an improvement with total base rising to 43.93 crore as of March 2023, a growth of 1.5% on sequential basis.
The telecom firm's average revenue per user rose marginally to Rs 178.8 QoQ.
"Jio’s industry leading net subscriber addition was 29.2 million for FY23 with monthly churn remaining stable at 2%. ARPU increased 6.7% YoY due to impact of tariff hike, better subscriber mix and data add-ons within select customer cohorts. Healthy subscriber additions and improvement in ARPU drive revenue and EBITDA growth for the connectivity business. In addition, scale-up of technology and digital services platform drives Jio Platforms Ltd consolidated revenue growth," said the telecom firm in an earnings statement.
Akash Ambani, Reliance Jio Infocomm Limited Chairman, said: “Jio has taken formidable strides in pioneering 5G rollout across the country with unmatched speed of execution. 5G has led to a significant improvement in customer experience, reflected in the higher engagement levels among Jio users. Jio remains committed to build a robust digital society with tailormade technology platforms which will drive sustained growth in earning and value for all stakeholders."
Reliance Industries Ltd, India's most valuable company, on Friday reported a more than 19% jump in fourth-quarter profit, led by the strength in its mainstay energy unit.
Consolidated profit at the Mukesh Ambani-led conglomerate rose to Rs 19,299 crore in the quarter ended March 31, from Rs 16,203 crore a year earlier, it said in an exchange filing.
Earnings before interest, taxes, depreciation and amortization (EBITDA) at the oil-to-chemicals (O2C) business rose over 14% to Rs 16,293 crore, though revenue fell about 12% due to a fall in crude oil prices and lower price realisation on downstream products.
O2C business, which had a great run for two years on higher demand for transportation fuels, was dented by the Indian government's windfall tax on fuel exports.
However, the impact has started receding with the government gradually lowering taxes since December.
Reliance Jio Infocomm, the telecom arm of Reliance Industries (RIL), reported a 13 per cent year-on-year (YoY) rise in net profit at Rs 4,716 crore for the March quarter compared with Rs 4,173 crore in the same quarter last year. On sequential basis, profit was up 1.7 per cent over December quarter's Rs 4,638 crore profit.
Revenue for the quarter came in at Rs 23,394 crore compared with Rs 20,901 crore in the corresponding quarter last year. Sales were up 11.9 per cent on YoY basis and 1.7 per cent on quarter-on-quarter basis. While the numbers came largely in line with analyst estimates, profit and revenue growth was slowest in five quarters, thanks to higher expenses and lack of recent tariff hikes.
Ebitda for the quarter stood at Rs 12,210 crore while Ebitda margin for the quarter came in at 52.19 per cent.
The revenue figure came in line with analyst projections. For RJio business, Nomura had estimated revenue at Rs 23,430 crore, up 12 per cent YoY. Emkay Global had expected revenue for Jio to grow 1.7 per cent sequentially (up 11.9 per cent YoY) at Rs 23,394 crore. The profit figure for Reliance Jio came slightly better than Nomura's Rs 4,690 crore forecast.
Jio Platforms reported a growth of 17% in EBITDA and improvement of 120 bps in margin year-on-year. Subscriber base continued to see an improvement with total base rising to 43.93 crore as of March 2023, a growth of 1.5% on sequential basis.
The telecom firm's average revenue per user rose marginally to Rs 178.8 QoQ.
"Jio’s industry leading net subscriber addition was 29.2 million for FY23 with monthly churn remaining stable at 2%. ARPU increased 6.7% YoY due to impact of tariff hike, better subscriber mix and data add-ons within select customer cohorts. Healthy subscriber additions and improvement in ARPU drive revenue and EBITDA growth for the connectivity business. In addition, scale-up of technology and digital services platform drives Jio Platforms Ltd consolidated revenue growth," said the telecom firm in an earnings statement.
Akash Ambani, Reliance Jio Infocomm Limited Chairman, said: “Jio has taken formidable strides in pioneering 5G rollout across the country with unmatched speed of execution. 5G has led to a significant improvement in customer experience, reflected in the higher engagement levels among Jio users. Jio remains committed to build a robust digital society with tailormade technology platforms which will drive sustained growth in earning and value for all stakeholders."
Reliance Industries Ltd, India's most valuable company, on Friday reported a more than 19% jump in fourth-quarter profit, led by the strength in its mainstay energy unit.
Consolidated profit at the Mukesh Ambani-led conglomerate rose to Rs 19,299 crore in the quarter ended March 31, from Rs 16,203 crore a year earlier, it said in an exchange filing.
Earnings before interest, taxes, depreciation and amortization (EBITDA) at the oil-to-chemicals (O2C) business rose over 14% to Rs 16,293 crore, though revenue fell about 12% due to a fall in crude oil prices and lower price realisation on downstream products.
O2C business, which had a great run for two years on higher demand for transportation fuels, was dented by the Indian government's windfall tax on fuel exports.
However, the impact has started receding with the government gradually lowering taxes since December.