Business News : Reliance Jio profit jumps by 24% to Rs 4173 crore

Billionaire businessman Mukesh Ambani's Reliance Jio's standalone profit jumped 24 per cent to Rs 4,173 crore in the fourth quarter of January-March 2022. The company had reported profit after tax of Rs 3,360 crore in the same period a year ago.

This was revealed in the company's filing on the stock exchange. Reliance Jio's Consolidated Profit After Tax for the financial year ended March 31, 2022, grew nearly 23 per cent to Rs 14,854 crore as compared to Rs 12,071 crore in FY21.

Telecom giant Reliance Jio has reported double-digit growth in the low for the quarter ended March 31, 2022. The telecom company's profit Q4 PAT grew 24.2% to ₹4,173 crore on a standalone basis as compared to profit of ₹3,360 crore reported in the same quarter last year. Jio's PAT (profit after tax) has increased by 15.4% sequentially.

Standalone revenue from operations grew 20 per cent to Rs 20,901 crore from Rs 17,358 crore in the March 2021 quarter. Reliance Jio's consolidated PAT for the financial year ended March 31, 2022, grew nearly 23 per cent to Rs 14,854 crore as compared to Rs 12,071 crore in FY21. Annual revenue from operations grew by about 10.3 per cent to Rs 77,356 crore in 2021-22 from Rs 70,127 crore a year ago.