New Delhi: Reliance Jio on Friday reported a 12 per cent year-on-year (YoY) rise in its standalone profit for the June quarter of fiscal year 2023 at Rs 4,963 crore.
Revenue from operations of Jio Infocomm, the television division of Reliance Industries, rose 10 per cent to Rs 24,042 crore. 23,394 crore in the previous quarter, an increase of 2.76 per cent.
The company said in a release that its Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the June quarter of FY23 increased by 0.55 per cent quarter-on-quarter (QoQ) to Rs 12,278 crore as against Rs 12,210 crore.
The company’s EBITDA margin remained stable at 52.3 per cent.
Reliance Jio’s debt-to-equity ratio stood at 0.21x as compared to 0.16x a year ago. On the other hand, its operating margin was stable at 26.2 percent, while its net profit margin increased 30 basis points to 17.2 percent.
market share
Reliance Jio dominates the Indian telecom market and according to the latest telecom data for April 2023, the telco is on top with 37.9 percent market share.
In April 2023, about 30.4 lakh customers were connected to Reliance Jio. To increase its dominance in the market, Reliance Jio has recently launched ‘Jio Bharat V2 4G Smartphone’ for just Rs 999.
Reliance Jio Chairman Akash Ambani said, “India still has 250 million mobile phone users who are ‘stuck’ in the 2G era, unable to take advantage of internet infrastructure at a time when the world stands on the cusp of the 5G revolution.”
The company has adopted a new strategy by shifting its focus to both the 5G consumer and enterprise segments, breaking away from the traditional approach where most of the telco’s revenue is generated from consumer mobility services.
Reliance Jio is fully dedicated to providing viable 5G services to its customers, aiming for widespread adoption.