Reliance Jio on Friday successfully demonstrated India’s first satellite-based giga-fibre service to provide high-speed, affordable Internet services in inaccessible areas across the country.
Telecom major Reliance Jio has posted a net profit of Rs 4,518 crore for the second quarter ending September of FY23.
During the period review, Its net profit after tax (PAT) climbed by 28.06% YoY in comparison to the quarter that ended September 30, 2021. It had posted a net of Rs 3,528 crore in the same quarter previous Financial Year (FY),
Furthermore, it was higher by 4.2% against Rs 4,335 crore recorded in Q1FY23.
In addition to this, the company’s margin also expanded by 90 basis points to 51% in Q2FY23 against 50.1% in Q1FY23.
Revenue from operations for the period ended September 30, 2022, stood at Rs 22,521 crore, up from Rs 18,735 crore posted in the same period of the previous year. The revenue was up 21.56% YoY and 2.96% against ₹21,873 crores in Q1 of the current fiscal.
The company has seen a fall in its expenses.
In the current quarter, Jio has a total expense of Rs 16,571 crores which was Rs 14,018 crore in Q1FY22 and Rs 16,137 crore in Q1FY23.
Moreover, EBITDA stood at ₹11,489 crores in Q2FY23 higher by 4.8% from ₹10,964 crores in Q1FY23.
For the six months of FY23, the company’s net profit and revenue rose to ₹8,853 crores and ₹44,394 crores respectively.
The company has basic earnings per share of ₹1.01 per share as of September 30, 2022, rising from ₹0.78 per share in Q2FY22 and ₹0.96 per share in Q1FY23.
Reliance Jio is setting up 5G network and continues augmenting its existing wireless and wireline network capacity.
The company, during the period under review, has acquired 25,036 MHz of spectrum in 700 MHz, 800 MHz, 1800 MHz, 3300 MHz, and 26 GHz bands across the 22 telecom circles for a period of 20 years at a total price of Rs.87,947 crore in the spectrum auction conducted by Department of Telecommunications (DoT).
(with inputs from Agencies)