# Reliance Jio Posts Impressive 12.3% YoY Growth in Q3 Net Profit, Reaches ₹5,208 Crores

URL: https://technosports.co.in/reliance-jio-posts-impressive-yoy-growth-in-q3/  
Published: 2024-01-22  
Updated: 2024-01-22  
Author: Ishika Setia

[Reliance](https://www.ril.com/)Jio Q3 Financial Results: In the quarter ending December 2023, Reliance Jio Infocomm recorded a 3% increase in standalone net profit, reaching ₹5,208 crore compared to ₹5,058 crore in Q2FY24.

Revenue from Mukesh Ambani’s Reliance Industries’ telecom operations rose by 2.5% to ₹25,368 crore from ₹24,750 crore in the previous quarter. Jio’s average revenue per user (ARPU) stood at ₹181.7, showing a 1.96% YoY increase from ₹178.2, remaining unchanged sequentially. On the stock market, Reliance Industries’ share price closed flat at ₹2,735.05 on BSE.

![Reliance Jio](https://technosports.co.in/wp-content/uploads/2024/01/image-748.png)

## **All About Reliance Jio’s Q3 Profit Growth**

The company attributed the ARPU increase to a better subscriber mix, offsetting unlimited data allowances on the 5G network. Year-on-year, standalone net profit saw a notable 12.3% rise, while revenue from operations increased by 10.3%. Jio reported a record-high gross revenue of ₹32,510 crore in the quarter, marking an 11.4% YoY increase. Operating revenue growth was driven by robust subscriber growth in mobility and homes, along with an improved ARPU mix.

![](https://technosports.co.in/wp-content/uploads/2024/01/image-749.png)

Operating margin slightly decreased to 26.3% from the previous year. Total expenses rose 2.5% sequentially and 10% YoY, with licensing and spectrum costs up by 10%. As of December, the debt-to-equity ratio increased to 0.19 times from 0.17 times a year ago. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 11.5% to ₹13,955 crore, with Jio’s EBITDA margin improving to 50.4% in the December quarter.

Jio reported that the launch of 5G accelerated new subscriber additions, with 11.2 million net additions in Q3 FY24 and a monthly churn rate of 1.7%. Internet and voice traffic on the Jio network rose by 31.5% and 7.9% YoY, respectively. The company highlighted the successful rollout of the [Jio](https://technosports.co.in/?s=Jio)True 5G network across India, surpassing expectations and transitioning nearly 90 million users to 5G. JioAirFiber witnessed strong demand, particularly in underserved tier 3/4 towns and rural areas. Jio aims for nationwide coverage in the first half of 2024.

![](https://technosports.co.in/wp-content/uploads/2024/01/image-750.png)

Innovations during the quarter included the launch of JioTV Premium plans, an Innovation Hub in Mumbai, and a partnership with Plume for smart home and small business services. Mukesh D Ambani, CMD RIL, expressed satisfaction with Jio achieving the fastest rollout of True 5G services in India, providing high-speed digital connectivity nationwide.