Reliance Jio's Q1FY25 profit surges 12% to ₹5,445 crore
Reliance Jio Infocomm, the telecom subsidiary of Reliance Industries Ltd (RIL), has announced a net profit of ₹5,445 crore for the quarter ending June 30, 2024. This figure marks a year-on-year (YoY) increase of 12% from ₹4,863 crore reported in the same quarter last year. The company's revenue from operations rose by 10% to ₹26,478 crore in the April-June quarter compared to ₹24,042 crore during the corresponding period of the previous financial year (FY).
Minor sequential growth observed in Q1 results
Reliance Jio's profit after tax (PAT) saw a sequential increase of 2%, rising from ₹5,337 crore reported in the fourth quarter of the previous FY to ₹5,445 crore. The standalone revenue also experienced a quarter-on-quarter (QoQ) growth of 2%, escalating from ₹25,959 crore reported in the January-March quarter to ₹26,478 crore. This consistent growth underscores the company's strong financial performance.
Expenses also see an increase
Alongside profits and revenue, Reliance Jio's expenses for the June quarter also saw a slight uptick, amounting to ₹26,580 crore. This is a rise from ₹26,081 crore in the March-ended quarter and ₹24,127 crore in the corresponding quarter of the previous FY. The expenses grew by 10% on a YoY basis and by a mere 2% on a QoQ basis.
