Reliance Jio has disclosed its financial results for the fourth quarter (Q4) for thr fiscal year 2023 (FY23). Jio reported a net profit of Rs 4,716 crore, compared to Rs 4,638 crore in the previous quarter and Rs 4,173 crore in the previous year. The total income reported by the firm was reportedly around Rs. 23,394 crore.
It was a bit lower than expected when compared to Nomura India’s projections, which put its sales at Rs. 23,430 crores, which was at an increase of 12% YoY. In addition to that, their EBITDA increased by 17% YoY to a total of Rs. 12,340 crores, while profits stood conclusively at Rs. 4,690 crore. The EBITDA that was recorded came in at Rs. 12,210 crore.
The only metric in which Jio exceeded expectations was the net profit they reported.
Jio reported growth in both its top-line and bottom-line numbers that were in the double-digit range for the quarter ending in December 2022. The company reported a net profit of Rs. 4,638 crore, while its sales were reported at Rs. 22,998 crore. In addition, the value of the company’s services was calculated to be at nearly Rs. 27,055 crore.
As of the 31st of December in 2023, Jio’s average revenue per user (ARPU) was around Rs. 178.2.
