Reliance Jio has disclosed its fourth quarter (Q4) financial results for the fiscal year 2023 (FY23). Jio reported a net profit of Rs 4,716 crore, up from Rs 4,638 crore in the prior quarter and Rs 4,173 crore in the prior year. The company reportedly reported a total income of approximately Rs. 23,394 billion.
Compared to Nomura India’s projections, which placed its sales at Rs. 23,430 crore and a year-over-year increase of 12%, it was a touch lower than anticipated. In addition, their EBITDA increased by 17% year-over-year to a total of Rs. 12,340 crore, while their net income reached Rs. 4,690 crore. The reported EBITDA amounted to Rs. 12,210 billion.
The only metric where Jio exceeded expectations was their reported net profit.
For the quarter ending in December 2022, both the top and bottom lines of Jio’s income statement grew by double digits. The company reported a net profit of Rs. 4,638 billion on revenues of Rs. 22,998 billion. In addition, the company’s services were estimated to be worth approximately Rs. 27,055 billion.
On December 31, 2023, Jio’s average revenue per user (ARPU) was approximately Rs. 178.2.
 financial results for the fiscal year 2023 (FY23).){kind=link}