Reliance Jio Infocomm Limited has released its unaudited standalone financial results for the quarter and half year ended September 30, 2022. The company reported a near 28 per cent year-on-year (YoY) rise in net profit in the report quarter, mainly driven by a surge in customer additions and higher data consumption by users. The net profit stood at Rs 45.18 billion, while its revenue rose 20.2 per cent YoY to Rs 225.21 billion from Rs 187.35 billion in September 2021.

However, the telco continued to lose mobile users heavily for the third successive quarter, courtesy more SIM consolidation following December 2021 tariff hike. As per the media release, during Q4, JPL’s consolidated net profit stood at Rs 43.13 billion compared to Rs 37.95 billion in Q3 FY’2021-22 period and Rs 35.10 billion a year ago.

Jio’s operating margin improved marginally to 26.3 per cent from 26.2 per cent in the quarter ended June 30, 2022. The net profit margin also saw a nominal improvement, increasing to 17 per cent in the reported quarter from 16.9 per cent in the previous quarter. The debt-equity ratio rose to 0.18.

Meanwhile, the operator’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin improved 90 basis points to 51 per cent on a sequential basis. The EBITDA stood at Rs 114.89 billion in the second quarter, up from Rs 109.64 billion in the previous quarter.