Reliance Jio Infocomm, the telecom enterprise of Reliance Industries, reported a 13.2% rise in fourth-quarter revenue on Monday, helped by a sustained development in subscriber additions.
Jio, India’s largest telecom service by subscriber depend, stated its web revenue climbed to 53.37 billion rupees ($640.2 million) within the January-March quarter from 47.16 billion rupees a yr in the past.
The corporate’s income from operations elevated about 11% to 259.59 billion rupees within the interval, whereas its complete bills grew at a barely slower tempo of 10.2%.
Three analysts anticipated income within the vary of 258 billion rupees to 261.29 billion rupees.
Jio will disclose its common income per person (ARPU), a key efficiency metric for telecom corporations, and subscriber additions together with dad or mum Reliance’s outcomes later within the day.
5 analysts estimate Jio, the primary Indian telecom operator to report outcomes for the quarter, added 7 million-14 million subscribers within the January-March interval. It had 470.9 million subscribers on the finish of final yr.
Its ARPU is anticipated to be within the vary of 181-184 rupees, in response to 5 analysts. Its ARPU was 178.8 rupees within the year-ago quarter and within the previous quarter, it was 181.7 rupees — increased than Vodafone Thought however decrease than Bharti Airtel.
The three firms haven’t raised tariffs since 2021 and analysts count on the subsequent enhance might be in mid-2024, after the nation’s basic elections.
Final yr, Jio launched a 4G budget-friendly cellphone known as Jio Bharat and wi-fi broadband Jio AirFiber to spice up person development.