Reliance Jio fourth quarter profit up 24% to Rs 4,173 crore

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In the corresponding quarter last year, the company posted a net profit of Rs 4,173 crore

Representational image. AFP

Reliance Jio, the telecom arm of Reliance Industries Ltd (RIL), on Friday reported a net profit of Rs 4,173 crore for the fourth quarter of the 2021-22 financial year that ended on 31 March, 2022. A CNBC-TV18 poll had predicted a net profit of Rs 4,400 crore for the quarter under review.

India’s largest telecom operator has reported earnings before tax, depreciation, and amortisation (EBITDA) at Rs 10,510 crore versus an expectation of Rs 10,500 crore. The EBITDA margin comes at 50.3 percent percent versus the poll reading of 50.5 percent.

Nitin Soni, senior director of corporates at Fitch Ratings, said the results were in line with their expectations. “Given the fact that revenue and EBITDA have increased and margins are at all-time high shows that there must have been some subscribers mostly at the expense of Vodafone-Idea, Soni said.

The company reported a revenue of Rs 20,901 crore, slightly higher than the poll estimate of Rs 20,800 crore.

Soni said he expects a gradual rise in Jio’s average revenue per user (ARPU). “There will be a number of occasions in the next 12-24 months to raise tariffs. Some of the customers are still low ARPU customers and when they come to the 4G network, the overall ARPU will improve,” he said.

Disclaimer: Network18, the parent company of CNBCTV18.com, Moneycontrol and Firstpost, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

 

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