Jio Platforms, the technology and telecom subsidiary of Reliance Industries, reported a net profit of Rs 4,638 crore for the quarter ended 31 December 2022, up 28.3 percent from a year ago. The company had reported net profit of Rs 3,615 crore in the same quarter last year.
Its revenue from operations came in at Rs 22,998 crore, rising 18.9 percent YoY from Rs 19,347 crore in the corresponding quarter last year.
A strong net subscriber addition of 7 million was expected to boost Jio’s EBITDA by 3-4 percent sequentially. Brokerages had forecast an EBITDA of Rs 12,635 crore for the telecom major.
Operating margin increased 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 bps, respectively.
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