Reliance Jio's Q1FY25 profit surges 12% to ₹5,445 crore
What's the story
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).
Sequential performance
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.
Operational costs
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.