Reliance Jio Q3 net profit rise 28.3% to Rs 4,638 cr

 India’s largest telecom firm Reliance Jio on Friday posted a 28.3 per cent year-on-year rise in its net profit to Rs 4,638 crore for the December 2022 quarter amid a steady rise in subscriber base and realisations for the connectivity business.

The company – whose Q3 FY23 results announcement marks the start of telecom’s earnings season – saw revenue from operations rising to Rs 22,998 crore during October-December 2022 from Rs 19,347 crore a year back.

This translated into 18.8 per cent year-on-year growth, while sequentially the topline rose 2.1 per cent.

Reliance Jio reported a net profit of Rs 4,638 crore in the just-concluded quarter, against Rs 3,615 crore in October-December 2021, according to a company’s stock exchange filing.