Reliance Jio Q1 Results: Profit rises 12% YoY to Rs 4,863 crore, but misses estimates
Reliance Jio reported a 12% year-on-year (YoY) rise in standalone net profit for the quarter ended June 2023 to Rs 4,863 crore. Revenue from operations increased nearly 10% to Rs 24,042 crore.
The reported standalone net profit was higher than the ET Now poll of Rs 4,797 crore. Sequentially, the bottomline and topline were up 3% each.
The total expenses for the quarter rose to Rs 17,594 crore from 16,136 crore a year ago. Network operating expenses, which make for a lion’s share of the total cost, rose to Rs 7.379 crore from Rs 6,842 crore a year ago.
The license fees/spectrum charges for the quarter stood at Rs 2,204 crore, compared to Rs 2,536 crore a year ago. Finance cost dipped sequentially to Rs 971 crore from Rs 1,006 crore a quarter ago.
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