Reliance Jio's Net Profit Surges 12% in Q1 2024

Reliance Jio Infocomm reported a 12% increase in net profit for Q1 2024, reaching Rs 5,445 crore. Revenue from operations also rose by over 10%, hitting Rs 26,478 crore. The company's 5G network development and augmentation of existing networks continue amid its ongoing mission to provide digital services.

Reliance Jio Infocomm on Friday announced a 12% rise in net profit for the April-June 2024 quarter, recording Rs 5,445 crore compared to Rs 4,863 crore in the same period last year. Revenue from operations saw a significant increase of over 10%, reaching Rs 26,478 crore, up from Rs 24,042 crore in the corresponding quarter last year.

The telecom giant's Audit Committee reviewed the financial results, which were subsequently approved by the Board of Directors during meetings held on July 19. The company is actively setting up a 5G network and enhancing the capacity of its existing wireless and wireline networks. Reliance Jio remains focused on providing extensive digital services.

Since its launch in 2016, Jio has aimed to make internet services accessible and affordable for every Indian. As the largest telecom operator in India and the second-largest single-country operator globally, Jio offers a variety of services including connectivity, fibre, mobile devices, applications, and business solutions. Reliance Jio Infocomm Limited operates as a subsidiary of Jio Platforms Limited.

(With inputs from agencies.)