Reliance Jio Q1 net profit rises 24 pc to Rs 4,335 cr

MUMBAI: India’s largest telecom operator Reliance Jio Infocomm on Friday saw a nearly 24 pc rise in its June quarter net profit to Rs 4,335 crore as tariff hike boosted revenues.

Billionaire Mukesh Ambani-led Reliance Jio clocked revenue from operations of Rs 21,873 crore in the just-ended quarter, which was 21.5 per cent higher than the year-ago period, according to a filing.

Jio’s Q1 performance was bolstered by tariff hikes of December 2021, and the number of active users on its network too has been improving.

The standalone net profit for the June quarter was up 23.8 per cent at Rs 4,335 crore against Rs 3,501 cr in the year-ago period. Seen sequentially, the net profit was almost four per cent higher than Rs 4,173 cr logged in the March 2022 quarter.

It is pertinent to mention here that Jio’s ARPU or Average Revenue Per User - a key monitorable metric for all telcos - increased during the March quarter to Rs 167.6 per subscriber per month. Jio’s operating profit margin for the just-concluded June quarter stood at 26.2 per cent, slightly higher than the corresponding quarter last year.