Reliance Jio Infocomm Ltd.'s fourth quarter profit surged, aided by addition in net subscriber base. Net profit of the telecom company rose 2.5% sequentially to Rs 5,337 crore in the quarter-ended March 2024, according to an exchange filing on Monday.
The average revenue per user improved 1.6% year-on-year to Rs 181.7, with better subscriber mix partially offset by unlimited data allowance on 5G network, according to a company statement. On a sequential basis, ARPU remained flat.
Reliance Jio Q4 FY24 Highlights (QoQ)
Revenue up 2% at Rs 25,959 crore.
Ebitda rises 2.5% to Rs 13,612 crore.
Ebitda margin at 52.4% vs 52.3%.
Other Highlights
Jio net added 1.09 crore subscribers in the quarter-ended March. Its total customer base stood at 48.18 crore during the period, as compared with 47.09 crore in the previous quarter. Monthly churn was at 1.5%.
Total data traffic was up 35.2% year-on-year at 4.09 crore GB, and total voice traffic rose 9.7% to 1.44 lakh crore minutes.
Net profit of the holding company, Jio Platforms Ltd., rose 2.5% quarter-on-quarter to Rs 5,583 crore in the fourth quarter, on the back of revenue that increased 4.23% on an annual basis to Rs 28,871 crore. The company's operational profitability improved 2.9% over the previous quarter to Rs 14,360 crore in the fourth quarter.
Shares of Reliance Industries closed 0.77% higher on Monday, as compared with a 0.86% gain in the country's benchmark NSE Nifty 50.
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