Reliance Jio Q2 Results: Profit surges 28% to Rs 4,518 crore

India's biggest telecom carrier by subscribers Reliance Jio on Friday reported 28 per cent growth in the September quarter net profit. The net profit stands at Rs 4,518 crore, while its revenue rose 20.2 per cent year-on-year to Rs 22,521 crore.

Earlier today, shares of Reliance Industries fell 1.16 per cent to close at Rs 2,471.95, even as benchmark indices extended their gains for the sixth straight session.

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The telecom giant said the revenue from its operations spiked by 20.2 per cent to Rs 22,521 crore for the September quarter, from Rs 18,735 crore a year ago.

Its operating margin improved marginally to 26.3 per cent from 26.2 per cent in Q2 this fiscal. While the net profit margin also saw a nominal improvement and rose to 17 per cent in the September quarter from 16.9 per cent in FY21. The debt-equity ratio increased to 0.18, while its EBITDA margin improved 90 basis points to 51 per cent on a sequential basis. The EBITDA was at Rs 11,489 crore in the second quarter, up from Rs 10,964 crore in the previous quarter of June 2022.

The telco's basic earnings per share increased to Rs 1.01 from Rs 0.78 a year ago.

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The telecom major is riding high on its newly launched 5G services in select cities. Jio started providing the beta trial of its 5G services from Dussehra (October 5) in four cities - Mumbai, Delhi, Varanasi, and Kolkata. The telecom company has promised to offer advanced next-generation technology that would bring in a new era of turbocharged speeds, lag-free connectivity, and new-age applications in India.