Mukesh Ambani’s company posted a bumper profit of Rs 310 crore between January and March
It may be noted that in the fourth quarter of the last financial year, the cost of the organization increased by 10.2 percent. However, the cost increased at a slower pace. Which is considered a good sign for improvement by the executives of the company. Reliance Jio’s revenue was expected to range between Rs 258 billion and Rs 261.29 billion.
Jio’s total subscriber base was 470.9 million at the end of last year. Analysts estimate that between January and March this year, between 7 and 14 million new customers were connected to the telecom company. As a result, its profit figure has increased.
JIO is the first among Indian telecom companies to release fourth quarter results for the financial year 2023-24. The company’s revenue per customer is estimated at Rs 181 to 184. However, no official announcement has been made by Reliance yet. Last year between January and March the revenue per customer was Rs 178.8.
According to sources, Jio is ahead of Vodafone Idea in terms of revenue per subscriber. But Bharti Airtel has left this company of Reliance behind. None of these three telecom companies have increased tariffs from 2021. That is expected to increase by mid-2024 after the Lok Sabha polls.
Last year, Mukesh Ambani launched a budget-friendly 4G phone called Jio Bharat to attract customers. He also introduced a wireless broadband service called Jio Air Fiber. As a result of which the number of Jio customers has increased several times, informed circles believe.
