Reliance Jio announced financial results for the fourth quarter of the last fiscal on Friday, April 21. The telco's profit during the period went up 1.7 percent sequentially to Rs 4,716 crore almost inline with the estimates.

Reliance Jio's revenue for the three months stood at Rs 23,394 crore, rising 1.7 percent from the previous quarter. This was Reliance Jio's fifth consecutive quarter of revenue growth. As per a release by the company the growth was aided by full impact of tariff hike, ramp-up of wireline services and continued subscriber addition for mobility services.

"With steady growth in mobility and FTTH subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits," said Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited.

EBIDTA stood at Rs 12,210 crore, growing 1.7 percent from the previous quarter aided by higher revenue and steady improvement in margins. Further depreciation increased due to higher network utilisation and incremental addition to gross block, said the company.

While its margin came in at 52.2 percent — in line with CNBC-TV18 poll expectations.

The company's APRU for the fourth quarter stood Rs 178.8 increasing 6 percent as compared to the corresponding period a year ago aided by the impact of tariff hike, better subscriber mix and data add-ons.

Jio's net subscriber for the quarter stood at 439.3 million as compared to 432.9 million in the last quarter. Jio’s industry leading net subscriber addition was 29.2 million for FY23 with monthly churn remaining stable at 2 percent.

Further Reliance Jio Infocomm delivered stellar 24.2 EBITDA growth in FY23 powered by 17.9 percent revenue increase.

"I think the company remains in that market share momentum game and they are not yet focusing on improving the yields. At some point of time, I think they will reach a situation where there is only so much revenue that you can grow by adding more and more subscribers. And then at that point of time, I think growth has to come from higher yields. And that can be a really very positive effect, because the Jio platforms and telecom business is a high operating leverage business. So even marginal increases in the yields can have a disproportionate positive impact on the bottom line of the company," said Dipan Mehta, Director at Elixir Equities.

Also read: Reliance Q4 Results Live: Jio meets estimates, net profit at Rs 4,716 crore

First Published:Apr 21, 2023 5:26 PM IST