Reliance Jio, India’s largest telecom carrier, saw its revenue from operations increase by 11% to 259.59 billion rupees in the quarter, while its expenses grew slightly slower at 10.2%. The company’s earnings per share (EPS) came in at 12.45 rupees, marking a 13.2% rise from the 10.99 rupees reported in the corresponding quarter of the previous year.
Three analysts had estimated Jio’s revenue to be in the range of 258 billion rupees to 261.29 billion rupees for the quarter. Jio’s average revenue per user (ARPU), a key metric for telecom firms, and subscriber additions are set to be disclosed along with parent Reliance’s results later today.
According to estimates from five analysts, Jio is projected to have added between 7 million and 14 million subscribers during the January-March period. The company had 470.9 million subscribers at the end of December 2022. Analysts anticipate Jio’s ARPU to range from 181 to 184 rupees for the quarter. In the year-ago quarter, Jio’s ARPU stood at 178.8 rupees, while it was 181.7 rupees in the preceding quarter.
To stimulate user growth, Jio introduced the budget-friendly Jio Bharat 4G phone and the wireless broadband service Jio AirFiber last year.
