Reliance Jio Q3 net profit jumps 28.29%, revenue from operations rise 18%

Telecom major Reliance Jio posted a net profit of Rs 4,638 crore in Q3FY23 against Rs 3,615 crore, year-on-year (YoY), a jump of 28.29 per cent.

On a sequential basis, the net profit was up by 2.65 per cent, from Rs 4,518 crore in September 2022.

Jio's revenue from operations inflated to Rs 22,998 crore in December quarter from Rs 19,347 YoY, a rise of 18.87 per cent. On quarter-on-quarter basis, the revenue was up 2.11 per cent, from Rs 22,521 crore.

The company's profit before tax (PAT) was reported at Rs 6,222 crore in Q3, up by Rs 1,375 crore, from Rs 4,847 crore, a jump of 28.36 per cent.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries said, "Jio delivered record revenues and EBITDA driven by strong momentum in customer growth and data consumption. This quarter we launched True 5G services. It is now available in 134 cities and towns in India, enhancing customer experience while enabling next generation services. It is heartening that customers recognise the great value and world class connectivity that Jio offers on its 4G and 5G networks.