In the latest financial revelation from Reliance Jio, the company has showcased a formidable performance with a 13% Year-on-Year (YoY) surge in net profit, alongside an 11% rise in revenue for the quarter ending March 31, 2024.
The figures were a part of the eagerly awaited earnings report by its parent company, Reliance Industries Limited (RIL), today.
Reliance Jio's quarterly results have garnered significant attention. The telecom arm of the Mukesh Ambani-led conglomerate posted a notable 3% sequential increase in net profit compared to the previous quarter. Revenue from operations stood at a substantial Rs 25,959 crore, affirming the company's robust financial performance in the competitive telecom sector.
The announcement comes amidst anticipation regarding key performance indicators such as average revenue per user (ARPU) and subscriber additions, which are pivotal metrics for telecom firms.
Analysts have been closely monitoring these indicators to gauge the company's market positioning and growth trajectory.
JP Morgan, a leading financial institution, forecasts a positive subscriber momentum for Reliance Jio in the fourth quarter, expecting approximately 1.15 crore net additions.
Reliance Industries Limited (RIL) is known for its diverse portfolio spanning from oil and telecommunications to chemicals.
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