Reliance Jio Q3 results: Net profit rises 12% to ₹5,208 crore

Reliance Jio Q3 results: Telecom giant Reliance Jio's net profit for December quarter rises 12.3% to ₹5,208 crore.

Updated on: Jan 19, 2024, 18:18:26 IST

By HT News Desk

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Reliance Jio Q3 results: Reliance Jio's standalone net profit rose 12.3 per cent to ₹5,208 crore in the December quarter compared to ₹4,638 crore a year ahead, the telecom giant said in a regulatory filing on Friday.

Reliance Jio Q3 results: A man walks across the LED board showing the logo of Jio at India Mobile Congress 2022, at Pragati Maidan, in New Delhi, India, October 3, 2022. (REUTERS)

Its profit growth had slowed from 28.3% to 11.95% in the past four quarters.

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Jio's revenue from operations increased 10.3 per cent to ₹25,368 crore in the third quarter against ₹22,998 crore in the year-ago period, snapping five straight quarters of slowing growth.

Its total expenses increased by just under 10%, almost aligning with its revenue growth.

Jio has been focused on enhancing user growth through the recent introduction of a budget-friendly 4G phone and wireless broadband service called Jio AirFiber.

Also read- Paytm Q3 results: Revenue jumps 38% to ₹2,851 crore

Jio's subscriber additions and Average Revenue Per User (ARPU), a crucial performance metric for telecom companies, will be disclosed along with the results of its parent company, Reliance, later on Friday.

The company's ARPU is estimated to have increased by approximately 2% sequentially, reaching 185 rupees in the quarter, as per brokerage firm Ambit Capital.

(Inputs from Reuters)

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