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Reliance Jio Q1 Results: Reliance Jio’s profit up 24 percent to Rs 4335 crore

Reliance Jio Q1 Results: Reliance Jio has declared the results for the first quarter of 2022-23. Reliance Jio’s profit increased 23.82 percent to Rs 4335 crore. At the same time, the company’s revenue has increased by 21.55 percent from Rs 17,994 crore to Rs 21,873 crore in this period.

Reliance Jio’s operating margin has improved by 20 basis points. At the same time, the company’s revenue, profit and margin have been as per the market estimates. According to the recent TRAI’s Jata, the company has added 31 lakh new subscribers in May and the total number of subscribers has reached Rs 40.87 crore.

Reliance Jio’s revenue has increased in the last quarter due to increase in average revenue per user and addition of new customers. The EBITDA of the company grew by 27.2 per cent to Rs 10,964 crore in the first quarter of 2022-23 from Rs 8,617 crore in the same period last year. EBITDA has increased by 4.3 percent as compared to the previous quarter, which was Rs 10,510 crore. The net worth of the company as on 30 June 2022 has been Rs 2,02,132 crore which was Rs 1,86,475 crore in June 2021.

On the other hand, the next week is important for Reliance Jio. Because next week from July 26, 2022, Reliance Jio is preparing to participate in the auction of 5G spectrum, for which the company has deposited an earnest money of Rs 14,000 crore.

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