Reliance Jio posts single-digit growth sequentially in Q4 earnings, PAT rises to ₹4,716 cr

Reliance Industries-backed telecom giant, Reliance Jio reported single-digit growth sequentially in the fourth quarter of FY23.

The company garnered a consolidated net profit of ₹4,716 crore in Q4FY23, registering 1.7% QoQ and 13.01% YoY growth.

Jio had posted a PAT of ₹4,638 crore in Q3FY23 and ₹4,173 crore in Q4FY22.

In terms of the top-line front, Jio also saw a 1.7% growth sequentially in revenue from operations to ₹23,394 crore in Q4FY23 compared to ₹22,998 crore in Q3 of the same fiscal.

But growth was at a much higher scale of 11.9% as against revenue of ₹20,901 crore that was seen in Q4 of FY22.

Jio's income from the value of services came in at ₹27,539 crore in Q4FY23, as against ₹24,602 crore in Q4FY22 and ₹27,055 crore in Q3FY23.

As of March 31, 2022, Jio's net worth (including retained earnings) picked up to ₹2,15,997 crore.

For the full fiscal year FY23, the company's net profit stood at ₹18,207 crore up by 22.9% from ₹14,817 crore in the previous fiscal.

Revenue from operations stood at ₹90,786 crore in FY23 versus ₹76,977 crore in FY22, recording a growth of 17.9%.