Last Update: January 20, 2023, 18:00 IST
Reliance Jio had reported a net profit of Rs 3,615 crore in the same quarter last year.
Jio’s EBITDA was expected to grow 3-4 percent sequentially on a strong net subscriber base of 7 million; The brokerage had estimated an EBITDA of Rs 12,635 crore for the telecom major.
Jio Platforms, the technology and telecom subsidiary of Reliance Industries, reported a net profit of Rs 4,638 crore for the quarter ended December 31, 2022, up 28.3 per cent from a year ago. The company had posted a net profit of Rs 3,615 crore in the same quarter last year.
Its revenue from operations came in at Rs 22,998 crore, up 18.9 per cent from Rs 19,347 crore in the same quarter last year.
A strong net subscriber base of 7 million was expected to boost Jio’s EBITDA by 3-4 per cent sequentially. The brokerage had estimated an EBITDA of Rs 12,635 crore for the telecom major.
Operating margin expanded by 50 basis points (bps) YoY and 30 basis points QoQ to 26.6 percent. Net profit margin stood at 17.1 percent, up 110 basis points and 10 basis points, respectively.
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