Reliance Jio's Profit Surges with Tariff Hike Impact
India's largest telecom operator, Reliance Jio, experienced a significant 24% increase in net profit for the October-December 2024 quarter, largely due to a tariff hike that boosted average revenue per user. The company reported a standalone net profit of Rs 6,477 crore for the period.
- Country:
- India
Reliance Jio, a dominant player in India's telecom industry, has announced a 24 percent increase in its net profit for the October-December 2024 quarter. This comes amid a significant rise in average revenue per user, influenced primarily by a recent tariff hike.
The company revealed a standalone net profit of Rs 6,477 crore for the quarter, showcasing a notable rise from Rs 5,208 crore reported in the same timeframe the previous year. Additionally, this figure surpasses the Rs 6,231 crore profit achieved in the preceding July-September 2024 quarter, as detailed in their latest stock exchange filing.
Moreover, Jio's revenue from operations also saw a climb, reaching Rs 29,307 crore compared to Rs 25,368 crore during the same period in 2023, underscoring the company's robust financial health and expansion potential.
(With inputs from agencies.)
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