Reliance Jio Q4 Results: PAT jumps 13% YoY to Rs 5,337 crore, meets Street estimates

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Leading telecom operator Reliance Jio Infocomm on Monday reported a 13% YoY rise in its standalone net profit to Rs 5,337 crore for the quarter ended March 31, 2024. This was broadly in line with ETNOW estimates of Rs 5,330 crore. The revenue for the reported quarter stood at Rs 25,959 crore versus ETNOW poll of Rs 26,000 crore.

The net profit stood at Rs 4,717 crore in the corresponding quarter of the previous financial year. The profit after tax was up by 2.4% over Rs 5,208 crore reported in the December ended quarter.

Meanwhile, the standalone revenue from operations grew by 11% versus Rs 23,394 crore in the year-ago period. On the sequential basis the revenue was up by 2.3% as against Rs 25,368 crore reported in the October-December period.

For the full financial year, the PAT stood at Rs 20,466 crore versus 18,207 crore in FY23 , a jump of 12.4% while the FY24 revenue stood at Rs 1,00,577 crore up by 10.3% versus Rs 91,148 crore in FY23.

The operating margin was reported flat at 26.3% in the quarter ended March 31, 2024, while net profit margin stood at 17.5% in the same period. For the year ended March 31, 2024, net profit margin stood at 17.4%, higher by 40 bps over FY23.

Company's debt-to-equity ratio in Q4FY24 increased on both YoY and QoQ basis to 0.22. It stood at 0.17% in Q4FY23 and 0.19% in Q3FY24.

Jio Platforms (JPL) quarterly consolidated revenue stood at Rs 33,835 crore, which was up 13.3% on the Y-o-Y basis. The company also regisetred industry leading subscriber growth with net additions of 4.24 crore during FY24. According to company's claims, Jio continued to drive country's transition towards 5G with 10.80 crore subscribers accounting for 28% of Jio's wireless data traffic.

The average revenue per user (ARPU) for the quarter stood at Rs 181.7 million, which was same as the last quarter while going 1.6% up over the corresponding period of last financial year. The ARPU in Q4FY23 stood at Rs 178.8.

JPL's EBITDA increased 12.8% Y-o-Y with higher revenue and margin improvement, the company filing said. Meanwhile, annual net profit of Jio Platforms (JPL) crossed Rs 20,000 crore mark.