Reliance Jio Surges Ahead: Q3 2024 Financial Report Unveiled : Reliance Jio Infocomm reported a 3% increase in standalone net profit for the quarter that ended in December 2023, from ₹5,058 in Q2FY24 to ₹5,208 crore.
Revenue from operations for Mukesh Ambani’s Reliance Industries’ telecom division was ₹25,368 crore at the end of the December quarter, 2.5% more than ₹24,750 crore in Q2FY24. Jio’s average revenue per user (ARPU) increased by 1.96% year over year to ₹181.7. It was the same, in order. The price of Reliance Industries’ shares on the BSE ended the day unchanged at ₹2,735.05 per share.
The business stated in its exchange filing that “ARPU increased 2.0% Y-o-Y to ₹181.7 with better subscriber mix partially offset by unlimited data allowance on 5G network.”
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Reliance Jio Surges Ahead: the quarter that ended in December 2023
For the quarter that ended in December 2023, the telecom business recorded a 12.3% increase in standalone net profit year over year, from 4,638 crore in Q3FY23. Operating revenue increased 10.3% from ₹22,998 crore to ₹23,998 crore in the same quarter last year.
According to the company’s statement, its gross sales for the quarter ended in December reached a record high of ₹32,510 crore, up 11.4% year over year
Reliance Jio Surges Ahead strong subscriber growth across
According to the company’s release, “strong subscriber growth across mobility and homes, as well as the benefit of mix improvement in ARPU, continued to drive operating revenue (net of GST) growth.”
- The operating margin for the quarter dropped from 26.4% in the prior quarter and 26.6% in the prior year to 26.3%.
- The telecom operator’s total expenses increased by 10% year over year from ₹16,839 crore in the same quarter the previous year, and 2.5% sequentially to ₹18,518 crore from ₹18,063 crore in Q2FY24. The costs of spectrum and licencing went by 1.7% from ₹2,290 crore in the previous quarter and by 10% from ₹2,120 crore in the prior year to ₹2,330 crore.
- The debt-to-equity ratio increased from 0.17 times in the same quarter last year to 0.19 times as of the end of December.
- Reliance Jio’s profits before interest, taxes, depreciation, and amortization (EBITDA) increased 11.5% to ₹13,955 crore from ₹12,519 crore in the same period of the previous fiscal year.
Reliance Jio Surges Ahead : Reliance Industries Q3: ₹17,265 crore in net profit reported by the company
- Jio had a 10 bps increase in EBITDA margin. In a filing to the stock exchange, the business stated that the introduction of 5G has accelerated the addition of new customers, with Jio surpassing rivals with 11.2 million net additions in the third quarter of FY24; the monthly churn was 1.7%.
- High levels of engagement on the Jio network persisted; overall voice and internet traffic increased by 7.9% and 31.5%, respectively, year over year.
- “Jio has completed the world’s quickest 5G network rollout and is currently accessible throughout India. Strong early demand and user engagement have been observed for JioAirFiber, particularly in underserved tier 3/4 towns and rural areas.
- In the upcoming years, Reliance Jio Infocomm Chairman Akash M. Ambani stated, “Jio’s innovative investments in digital technologies, next-generation networks, and customized products for all customer cohorts will ensure sustainable industry-leading growth.”
- Also Read: Reliance Retail Q3FY24 results: Revenue up 24% YoY, net profit up 32% YoY at ₹3,165 million
Reliance Jio Surges Ahead Strategic advancement in Q3FY24
- During the quarter, Jio launched its Jio True 5G network throughout India ahead of schedule. Nearly 90 million people have switched to Jio’s 5G network.
- Users now have more options with three SKUs (pricing from ₹999 to ₹2,599) accessible on the JioBharat platform. JioBharat has a market share of more than 45% in the sub-₹1,000 segment. Already more than 4,000 towns and cities
- For prepaid mobile users, Jio announced the introduction of JioTV Premium plans, which offer benefits for phone and internet use in addition to access to premium content from up to 14 OTT platforms. Jio and the world’s leading alliance of IT and telecom companies, TM Forum, established an Innovation Hub in Mumbai during the quarter.
- During the quarter, Jio also announced a partnership with Plume, a leader in the consumer experience, to provide its Indian consumers with industry-leading services for small businesses and smart homes.
- “I’m pleased to announce that Jio has finished rolling out True 5G services in India at the fastest rate in the world. Now that high-speed digital connectivity is available in every city, town, and hamlet across the nation, it will usher in
