NEW DELHI: India’s largest telecom operator Reliance Jio on Friday reported 23.8% rise in standalone net profit at Rs 4,335 crore for the quarter ended 30 June, 2022. Sequentially, the telecom operator’s profit rose marginally from Rs 4,173 crore in the previous March quarter.
The company’s revenue from operation witnessed an increase of 21.5% to Rs 21,873 crore in the first quarter from Rs 18,008 crore in the same quarter last fiscal. The EBITDA or earnings before interest, taxes, depreciation and amortisation came in at Rs 10,964 crore in Q1FY23 as against Rs 8,617 crore in Q1FY22, while the EBIDTA margin increased 220 basis points to 50.1%.
Jio’s quarterly update comes at a time 5G auction is going to take place. The Reliance group company’s total expenses jumped to Rs 16,137 crore in Q1FY23 as compared to Rs 13,313 crore in Q1FY22 and Rs 15,353 crore in Q4FY22. As of June 30, 2022, the company’s net worth is around Rs 2,02,132 crore compared to Rs 1,86,475 crore as of June 2021.
By the end of the March 2022 quarter, the net worth was nearly Rs 1,97,790 crore. “The company continues to invest in augmentation of the wireless and wireline network capacity,” Reliance Jio said in its audit report.
Revenue from operation sees 21.5% jump
Sequentially, the telecom operator’s profit rose marginally from Rs 4,173 crore in the previous March quarter. The company’s revenue from operation witnessed an increase of 21.5% to Rs 21,873 crore in the first quarter