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Reliance Jio profit grows 28 pc in Sept quarter

MUMBAI: Reliance Jio on Friday posted a 28 per cent growth in its net profit to Rs 4,518 crore for the quarter ended September 30, against Rs 3,528 crore in the year-ago period.

The telecom giant garnered a revenue from operation of Rs 22,521 crore in the second quarter of the financial year (Q2 FY23), a 20 per cent growth from Rs 18,735 crore year-on-year.

Earnings before interest, taxes, depreciation, and amortisation (Ebitda) stood at Rs 11,489 crore in Q2FY23, against Rs 10,964 crore in the first quarter (Q1FY23), a 4.8 per cent growth.

Jio also revealed in its statement that its network operating expenses went up to Rs 7,181 crore from Rs 6,264 crore in the year-ago period.

According to Telecom Regulatory Authority of India (Trai) data released on Tuesday, Reliance Jio has become the largest wireline player with 7.3 million subscribers surpassing the state-run BSNL, which has 7.1 million subscribers.

As per the Trai data, Reliance Jio also added 32.8 lakh new subscribers in August whereas Bharti Airtel added 3.2 lakh subscribers, and Vodafone Idea lost 19.6 lakh subscribers.


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