Reliance Industries Limited (RIL) has announced its financial and performance results for the quarter and year ending March 31, 2023. Jio Platforms Limited's net profit for Q4 FY23 jumped to Rs 4,984 crore from Rs 4881 crore in Q3 FY23. On a YoY basis, Jio's net profit for Q4 increased by 15.6% from Rs 4,313 crore at the end of Q4 FY22 to Rs 4,984 crore in Q4 FY23.
For FY23, Jio's net profit jumped to Rs 19,124 crore, which is quite higher than the net profit of FY22 - Rs 15,487 crore. Jio said that it witnessed healthy growth in revenue from operations because of the full tariff hike, the ramp-up of wireline services, and continued subscriber addition for mobility services. The telco's EBITDA growth was on account of higher revenue and steady improvement in ratings.
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Jio's customer base at the end of Q4 FY23 was 439.3 million, up by 29.2 million from 410.2 million at the end of FY22. The telco said that its monthly churn remained stable at 2%. Jio's subscriber base grew by 6.4 million users QoQ at the end of March 31, 2023. The total data traffic reached 30.3 billion GB in the last quarter of FY23 compared to 23.2 billion GB at the end of FY22. Voice traffic also went up to 1.31 trillion minutes from 1.21 trillion minutes in Q4 FY22.
Jio said, "ARPU increased 6.7% Y-o-Y due to the impact of the tariff hike, better subscriber mix and data add-ons within select customer cohorts." The telco also pointed out that it has reached more than 2300 cities with its 5G in less than six months. The telco has deployed 60000 5G sites across 700 MHz and 3500 MHz bands.
Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited (RIL), said, "Jio continues to digitally empower millions of citizens across the nation, extending True 5G reach to 2,300+ cities and towns in a short span of 6 months. With steady growth in mobility and FTTH subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits."
Akash M Ambani, Reliance Jio Infocomm Limited Chairman, said, “Jio has taken formidable strides in pioneering 5G rollout across the country with unmatched speed of execution. 5G has led to a significant improvement in customer experience, reflected in the higher engagement levels among
Jio users. Jio remains committed to build a robust digital society with tailormade technology platforms which will drive sustained growth in earning and value for all stakeholders.”
