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Jio’s Q4 2023 net profit was Rs 4,984 crore, with an ARPU of Rs 178.8.

Jio’s net profit for Q4 FY23 increased 15.6% from Q4 FY22 to Rs 4,984 crore in Q4 FY23.

Announced. villages. At the conclusion of Q4 FY23, Jio had 439.3 million customers, an increase of 29.2 million from 410.2 million at the end of FY22. According to the telco, its monthly turnover stayed constant at 2%. By the end of March 31, 2023, Jio’s subscriber base has increased by 6.4 million people quarterly. In contrast to the 23.2 billion GB at the end of FY22, the total data traffic reached 30.3 billion GB in the last quarter of FY23.

HIGHLIGHTS

  • The financial and performance results for the quarter and year ended March 31, 2023, have been released by Reliance Industries Limited (RIL).
  • Jio Platforms Limited’s net profit for Q4 FY23 increased from Rs 4881 crore in Q3 FY23 to Rs 4,984 crore.
  • Jio’s fourth quarter net profit rose 15.6% year over year, from Rs 4,313 crore at the end of fourth quarter FY22 to Rs 4,984 crore in fourth quarter FY23.

Announced. villages. The financial and performance results for the quarter and year ended March 31, 2023, have been released by Reliance Industries Limited (RIL). Jio Platforms Limited’s net profit for Q4 FY23 increased from Rs 4881 crore in Q3 FY23 to Rs 4,984 crore. Jio’s fourth quarter net profit rose 15.6% year over year, from Rs 4,313 crore at the end of fourth quarter FY22 to Rs 4,984 crore in fourth quarter FY23.

Announced. villages. Jio’s net profit for FY23 increased significantly from FY22’s net profit of Rs 15,487 crore to Rs 19,124 crore. Jio claimed that the complete rate increase, the expansion of landline services, and the ongoing addition of subscribers for mobility services all contributed to a good growth in operating revenue. The telco’s EBITDA increased as a result of rising revenue and consistent rating improvement.

At the conclusion of Q4 FY23, Jio had 439.3 million customers, an increase of 29.2 million from the 410.2 million at the end of FY22. According to the telco, its monthly turnover stayed constant at 2%. By the end of March 31, 2023, Jio’s subscriber base has increased by 6.4 million people quarterly. In contrast to the 23.2 billion GB at the end of FY22, the total data traffic reached 30.3 billion GB in the last quarter of FY23. Additionally, voice traffic increased from 1.21 trillion minutes in Q4 FY22 to 1.31 trillion minutes in Q4 FY23.

In accordance with Jio, “ARPU increased 6.7% Y-o-Y due to the impact of the tariff hike, better subscriber mix, and data add-ons within select customer cohorts.” The telco also noted that in less than six months, its 5G network had expanded to more than 2300 cities. In the bands of 3500 MHz and 700 MHz, the telecom has installed 60000 5G stations.

Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh D Ambani stated, “Jio continues to digitally empower millions of citizens across the nation, extending True 5G access to 2,300+ cities and towns in just 6 months. The Jio business continues to produce outstanding increase in operating profitability thanks to consistent rise in the number of mobile and FTTH subscribers as well as an expanded selection of content and digital services.

Reliance Jio InfoComm Limited Chairman Akash M. Ambani stated, “Jio has taken impressive steps in pioneering 5G rollout throughout the country with unrivalled pace of execution. Customer experience has significantly improved as a result of 5G, as seen by the increasing levels of engagement among Jio users. Jio is still committed to using customised technologies to create a strong digital society.

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Written by Shallu Srivastav

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