New Delhi: Reliance Jio on Friday reported a 12 per cent year-on-year (YoY) rise in its standalone profits for the June quarter of the Financial Year 2023 to Rs 4,963 crore.

Revenue from the operation of the television division of Reliance Industries, Jio Infocomm, grew by 10 per cent to Rs 24,042 crore. rose 2.76 per cent from Rs 23,394 crore in the previous quarter.

The company in a release said that its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the June quarter of the Financial Year 2023 stood at Rs 12,278 crore, up by 0.55 per cent Quarter-on-Quarter (QoQ), in comparison to Rs 12,210 crore.

The Company’s EBITDA margin was stable at 52.3 per cent.

Reliance Jio’s debt-to-equity ratio came at 0.21 times in comparison to 0.16 times a year back. On the other hand, its operating margin was steady at 26.2 per cent whereas, its net profits margin hiked by 30 basis points to 17.2 per cent.

Market share

Reliance Jio holds dominance over the Indian telecom market and as per the latest telecom data of April 2023, the telecom firm sits at the top with a market share of 37.9 per cent.

In April 2023, around 30.4 lakh subscribers were added to Reliance Jio. To expand its dominance over the market, Reliance Jio recently started a ‘Jio Bharat V2 4G smartphone for just Rs 999.

The reliance Jio chairman Akash Ambani said “there are still 250 million mobile phone users in India who remain ‘trapped’ in the 2G era, unable to tap into basic features of the internet at a time when the world stands at the cusp of a 5G revolution.”

The company has embraced a novel strategy by giving its focus towards both 5G consumer and enterprise sectors, exiting the conventional approach from where most of the telecom company’s income is generated from consumer mobility services.

Reliance Jio is fully devoted to providing feasible 5G services to its consumers, aiming to enhance widespread adoption.