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Reliance Jio Platforms has reported a net profit of INR 14,817 Cr for the full fiscal year 2022, up 23% from INR 12,017 Cr in FY2021. Operating revenue reached INR 76,977 Cr up from INR 69,888 Cr operating revenue reported in March last year.

The total value of services provided for the year or GMV for Reliance Jio reached INR 90,608 Cr for the period ended March 2022, as compared to INR 86,493 Cr in 2021. Jio reported a 24.2% jump in fourth-quarter net profit, which rose to INR 4,173 Cr for the quarter, up from INR 3,360 Cr a year earlier.

On a quarterly basis, Jio’s revenue from operations reached INR 20,901 Cr compared to INR 17,358 Cr in the same quarter last year, and up from INR 19,347 Cr in the previous quarter ended December 2021.

Operating revenue for the quarter also saw robust growth at INR 10,510 Cr as against INR 9,514 Cr reported in the previous quarter. Reliance Jio’s operating margin in the quarter expanded 110 basis points quarter-on-quarter to 50.3% reflecting the impact of higher tariffs in the telecom sector in 2022.

Reliance Jio Subscriber Base Shrinks

The latest telecom subscription data released by the Telecom Regulatory Authority of India (TRAI) showed a steep decline in subscription numbers of Reliance Jio. Reliance Jio’s subscribers fell by more than 3.6 Mn in February 2022,  representing a drop of 2.49% of its total subscriber count.

Meanwhile, Jio’s closest rival Bharti Airtel subscribers grew by more than 1.5 Mn during the month, signifying a rise of 0.49% in its total subscriber number. In contrast, Vi lost more than 1.5 Mn subscribers in February, representing a drop of 0.58% of its total subscriber strength.

Developing…

Jio Platforms’ parent company Reliance Industries Limited (RIL) is expected to announce its full fiscal financials today. Check back for updates on Jio and RIL’s FY22 financial performance.