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Reliance Jio Q2 Result | Net Profit Rises 28% YoY To Rs 4,518 Crore, Revenue Grows 20%

Last Updated: October 21, 2022, 17:39 IST

On a sequential basis, Jio’s profit grew by 4 per cent.

Performance was driven by higher net customer additions and increase in average revenue per user

Reliance Jio Infocomm, a subsidiary of Reliance Industries’ digital unit Jio Platforms, reported year-on-year growth of 28 percent in its standalone net profit at Rs 4,518 crore for the September quarter.

On a sequential basis, the profit grew by 4 percent.

The company recorded revenues of Rs 22,521 crore for the quarter in review, up 20 percent from a year ago. Sequentially, revenues increased by 3 percent.

Performance was driven by higher net customer additions and an increase in average revenue per user.

The operating expenses as percentage of revenues remained stable compared to the same period of last year as well as the previous quarter. As a result, the operating margins remained consistent throughout at 26.3 percent.

The net margin at 17 percent was higher by 100 bps on year but remained stable compared to the previous quarter.

Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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