Reliance Jio, India’s main telecom operator, reported a 13 per cent improve in standalone internet revenue for the March quarter, reaching Rs 5,337 crore. The corporate’s income from operations for Q4FY24 additionally noticed a big rise, standing at Rs 25,959 crore, marking an 11 per cent improve in comparison with the identical interval final 12 months.
The web revenue was pegged at Rs 5,337 crore for just-ended quarter, up from Rs 4,716 crore within the fourth quarter of FY23, which translated right into a 13.16 per cent improve.
Based on a BSE submitting by the corporate, for the total FY24, the web revenue stood at Rs 20,466 crore, which was 12.4 per cent increased than that of FY23. The income for full fiscal ended March 2024 was Rs 1,00,119 crore, up 10.2 per cent over the previous fiscal.
Reliance invests USD 125 bn in capex in final 10 years
It must be famous right here that Reliance Industries Ltd invested over USD 125 billion within the final ten years because it undertook large growth in hydrocarbon and telecom companies, a report mentioned, estimating that the conglomerate’s investments within the subsequent three years could be in comparatively much less capex-heavy retail and upstream new vitality. Reliance is popping out of a collection of lengthy and intensive capex cycles (hydrocarbons and telecom).
“The corporate has invested almost USD 30 billion between FY13-18 to extend scale, integration and price competitiveness of the O2C (oil to chemical) enterprise, and near USD 60 billion between FY13-24E in 4G/5G capabilities to create a high-growth telecom enterprise,” Goldman Sachs mentioned in a deep dive report on Reliance.
With the pan-India 5G rollout now doubtless accomplished and potential telecom tariff hikes forward, it anticipated the telecom enterprise to change into a robust free-cash-flow (FCF) technology enterprise alongside present money cow O2C (which contains its mega oil refinery and petrochemical complexes).
(With PTI inputs)
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