Reliance Jio Infocomm on Friday reported a net profit of Rs 5,445 crore for the quarter ended June 30, 2024, which was up by 12% over Rs 4,863 crore reported by the company in the year-ago period. The Reliance Industries‘ telecom subsidiary reported revenue from operations at Rs 26,478 crore, which was up by 10% from Rs 24,042 crore reported by the company in the corresponding period of the previous financial year.
On a sequential basis, the profit after tax (PAT) was up 2% over Rs 5,337 crore reported in Q4FY24.
Meanwhile, the standalone revenue was up 2% on a quarter-on-quarter basis from Rs 25,959 crore reported in the January-March quarter.
The company’s June quarter expenses jumped to 26,580 crore in the reported quarter versus Rs 26,081 crore in the March ended quarter and Rs 24,127 crore in the corresponding quarter of the previous financial year.
Expenses grew 10% on a YoY basis, and a mere 2% QoQ.More to come….
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