RelianceQ3 Result: Reliance Jio profit of 4638 crores in December quarter


New Delhi. Reliance Jio, the telecom subsidiary of Mukesh Ambani-led Reliance Industries Limited, released its December quarter results. Reliance Jio has registered a profit of 28.3 per cent in the third quarter of the current financial year. The company has also added new users. Jio, India’s largest telecom carrier by subscribers, said net profit rose to Rs 4,638 crore for the quarter ended December 31, from Rs 3,615 crore in the year-ago period.

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increase in operating revenue
The company’s operating revenue grew by nearly 19 per cent to Rs 22,998 crore as compared to Rs 19,502 crore in the same quarter last year. Operating profit margin for the quarter improved to 26.6 per cent in the December quarter, as against 26.3 per cent in September and 26.1 per cent in the year-ago quarter. Net profit margin stood at 17.1 per cent in the December quarter. It was 17 per cent in the September quarter and 26.1 per cent in the same quarter last year.

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increased number of subscribers
The company said that Reliance Jio is setting up a 5G network and expanding its existing wireless and wireline network capacity. Jio, a subsidiary of Reliance Industries, is primarily engaged in the business of providing digital services. According to the company, its net worth stood at Rs 2,11,281 crore at the end of the December quarter, up from Rs 2,06,644 crore in September and Rs 1,93,616 crore in the year-ago quarter. Jio has added 7 million net subscribers during the last quarter.

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Reliance Industries performance
Reliance Industries presented mixed results in the third quarter. The company has made a profit of Rs 15,792 crore in the December quarter, while earlier in the second quarter the company had a profit of Rs 13,656 crore. At the same time, the company’s income decreased in the third quarter as compared to the second quarter. The company’s income in the third quarter was Rs 2.17 lakh crore, compared to Rs 2.30 lakh crore in the previous quarter.

However, Reliance Industries Limited reported a decline in net profit on a year-on-year basis for the quarter ending December 2022. The company’s net profit in the December quarter stood at Rs 15,792 crore. While it was Rs 18,549 crore in the year-ago period.

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In Q2FY22, Mukesh Ambani-led RIL benefited from strong refining margins and fuel demand. Its revenue from operating grew 15 per cent to Rs 2,20,592 crore as compared to Rs 1,91,271 crore in Q3FY22. On Friday, RIL shares closed at Rs 2,443 on the BSE, down 1.1 per cent.

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