Reliance Jio Q4 results: Profit jumps over 13% to Rs 5,337 crore

Reliance Jio Infocomm on Monday reported a 13.17 per cent rise in its fourth-quarter profit (Q4 FY24), helped by a sustained growth in subscriber additions. Jio is the telecom business of Reliance Industries Ltd (RIL).

The telecom carrier said its net profit climbed to Rs 5,337 crore in the January-March quarter from Rs 4,716 crore a year ago.

The firm's revenue from operations increased around 11 per cent to Rs 25,959 crore in Q4 FY24, while its total expenses grew 10.2 per cent.

The company's total assets, as on March 31, 2024, stood at Rs 4,87,405 crore as against Rs 4,45,772 crore in the year-ago period.

Net profit margin improved to 17.5 per cent in Q4 FY24 compared to 17.1 per cent in the corresponding period last year.

Jio is setting up 5G network and continues augmenting its existing wireless and wireline network capacity, it stated.

The firm will disclose its average revenue per user (ARPU), a key performance metric for telecom firms, and subscriber additions along with parent RIL's results later in the day.

"For Reliance's standalone segment, refining margins are expected to improve; however, petchem will remain under pressure. We expect a 2 per cent QoQ subscriber growth and flat ARPU at Rs 182 per month growth in Jio while the retail segment should continue its resilient performance," Prabhudas Lilladher said.

Shares of RIL have risen 14.39 per cent in 2024 so far as against a 1.90 per cent rise in the BSE Sensex. The BSE oil & gas index is up 23 per cent during the same period.