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Reliance Jio Infocomm reported a near 24% on-year jump in net profit – its 18th successive quarterly profit — in the fiscal fourth quarter, FY22, helped by lower finance costs and access charges.

Jio’s net profit in the quarter ended March stood at Rs 4,174 crore compared with Rs 3,617 crore in the previous one and Rs 3,372 crore a year ago.

The Mukesh Ambani-led telco’s March quarter revenue from operations came in 8% higher sequentially at Rs 20,901 crore compared to Rs 19,347 crore in the fiscal third quarter and Rs 17,358 crore in the year-ago period. Jio’s quarterly revenue from operation, was over 20% higher, year-on-year.

Jio’s finance costs in the March quarter, FY22. were a tad lower sequentially at Rs 1,218 crore compared to Rs 1,254 crore in the fiscal third quarter. Quarterly access charges too came in lower at Rs 190 crore compared to Rs 229 crore in the previous quarter.

Jio, in its fourth quarter earnings statement, said its commercial papers due for redemption during the year ended March 31, 2022, were duly repaid. “As on March 31, 2022, the company has total outstanding commercial papers amounting to Rs 17,837 crore (net of discount),” the company said on Friday.

Shares of Reliance Industries (RIL), Jio’s parent, closed around 0.8% lower at Rs 2621.15 on the BSE Friday. The Jio results were declared after market hours.

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