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Reliance Jio Q4 net profit rises over 13 per cent year-on-year to Rs 5,337 crore

The revenue for full fiscal ended March 2024 was Rs 1,00,119 crore, up 10.2 per cent over the preceding fiscal. For the full FY24, the net profit stood at Rs 20,466 crore, which was 12.4 per cent higher than that of FY23.

Anurag Roushan Edited By: Anurag Roushan @Candid_Tilaiyan Mumbai Updated on: April 22, 2024 19:11 IST
Reliance Jio Q4 net profit
Image Source : INDIA TV The net profit was pegged at Rs 5,337 crore for the just-ended quarter.

Reliance Jio, India's leading telecom operator, reported a 13 per cent increase in standalone net profit for the March quarter, reaching Rs 5,337 crore. The company's revenue from operations for Q4FY24 also saw a significant rise, standing at Rs 25,959 crore, marking an 11 per cent increase compared to the same period last year. 

The net profit was pegged at Rs 5,337 crore for just-ended quarter, up from Rs 4,716 crore in the fourth quarter of FY23, which translated into a 13.16 per cent increase.

According to a BSE filing by the company, for the full FY24, the net profit stood at Rs 20,466 crore, which was 12.4 per cent higher than that of FY23. The revenue for full fiscal ended March 2024 was Rs 1,00,119 crore, up 10.2 per cent over the preceding fiscal.

Reliance invests USD 125 bn in capex in last 10 years

It should be noted here that Reliance Industries Ltd invested over USD 125 billion in the last ten years as it undertook massive expansion in hydrocarbon and telecom businesses, a report said, estimating that the conglomerate's investments in the next three years would be in relatively less capex-heavy retail and upstream new energy. Reliance is coming out of a series of long and intensive capex cycles (hydrocarbons and telecom).

"The company has invested nearly USD 30 billion between FY13-18 to increase scale, integration and cost competitiveness of the O2C (oil to chemical) business, and close to USD 60 billion between FY13-24E in 4G/5G capabilities to create a high-growth telecom business," Goldman Sachs said in a deep dive report on Reliance.

With the pan-India 5G rollout now likely completed and potential telecom tariff hikes ahead, it expected the telecom business to become a strong free-cash-flow (FCF) generation business alongside current cash cow O2C (which comprises its mega oil refinery and petrochemical complexes).

(With PTI inputs)

ALSO READ: Reliance Jio plans 'Bharat GPT' AI model for India: Everything you need to know

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