Reliance Jio Q1 Results | Telco’s Net Profit Increases 24 Per Cent To Rs 4,335 Crore

Telecom major Reliance Jio on Friday clocked a standalone net profit of Rs 4,335 crore in the quarter ended June 30, 2022. The telco had earned a profit after tax (PAT) of Rs 3,501 crore in the same quarter last year. The company has logged growth of 23.82 per cent.

The net profits of Reliance Jio have soared throughout the year. In Q4FY22, the company’s figures stood at Rs 4,313 crore, up 23 per cent year-on-year (YoY).

According to the exchange filing, Mukesh Ambani-led 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.

In Q3FY22, the net profit was Rs 3,795 crore, and in Q2FY22, it was Rs 3,728 crore. In the first quarter of the last financial year, Reliance Jio had recorded a net profit of Rs 3,651 crore, up 45 per cent from Q1FY21.

The company’s Ebitda (Earnings before interest, tax, depreciation and amortization) for the quarter grew 27.2 per cent to Rs 10,964 crore as compared to Rs 8,617 crore achieved during the same period a year ago.

For the financial year ended March 31, 2022, Reliance Jio’s consolidated PAT increased by about 23 per cent to Rs 14,854 crore, compared to Rs 12,071 crore in FY21.

Jio’s quarterly results comes at a time when the telecom market is poised for the advent of 5G services. The countdown to 5G spectrum auctions has begun, and a total of 72 GHz (gigahertz) of radiowaves worth at least Rs 4.3 lakh crore will be put on the block during the upcoming auction, scheduled to begin on July 26.