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Reliance Industries’ telecom unit, Reliance Jio, announced its financial results for the fourth quarter of the last fiscal year (2023-24) on Monday. The company reported a net profit of 5,337 crore rupees, marking a 13% increase compared to the previous year. On a quarterly basis, the company’s profits also saw a growth of 3%. Furthermore, the company’s revenue increased by 11% on a year-on-year basis.
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According to the information provided by the company, Reliance Jio recorded a profit of 5,337 crore rupees in the March quarter. In the December quarter, the company’s profit was 5,208 crore rupees. A year ago, the company had made a profit of 4,716 crore rupees.
Year-on-Year Revenue Increase of 10.96%
On a quarter-to-quarter basis, Jio’s revenue increased from 25,368 crore rupees to 25,959 crore rupees. A year ago, Jio had recorded a revenue of 23,394 crore rupees in the March quarter. Thus, the revenue saw a quarter-to-quarter increase of 2.3%. Compared to the previous year, the revenue increased by 10.96%.
EBITDA Margin Increased to 52.4%
Compared to the December quarter, Jio’s EBITDA margin increased from 52.3% to 52.4%. In the same quarter of the previous year, Jio’s EBITDA margin was at the level of 52.2%. Along with this, the EBITDA reached 13,612 crore rupees in the quarter ending in March. In the December quarter, this figure was 13,277 crore rupees. In the same quarter of the previous year, the figure was 12,210 crore rupees. On a quarterly basis, EBITDA increased by 2.52% and on an annual basis, EBITDA increased by 11.4%.
This announcement of the Q4 results showcases the steady growth and strong performance of Reliance Jio in the past fiscal year. The company continues to make strides in the telecom industry, demonstrating its commitment to providing quality services to its customers. The increase in net profit and revenue indicates a positive outlook for the company in the coming fiscal year. The growth in EBITDA margin further strengthens the company’s financial position, paving the way for future investments and expansions. As the telecom industry continues to evolve, Reliance Jio is well-positioned to leverage its strengths and seize new opportunities. The company’s performance in the last fiscal year serves as a testament to its resilience and strategic approach in navigating the dynamic telecom landscape.
