Reliance Jio Q1 Results: Net profit rises 12.1% to Rs 4,863 crore
Reliance Jio Q1 results: Reliance Jio Infocomm, the telecom arm of Reliance Industries (RIL), on Friday, reported over 12 per cent rise in net profit to Rs 4,863 crore in the June 2023 quarter, the company said in a filing.
Reliance Jio Q1 results: Reliance Jio Infocomm, the telecom arm of Reliance Industries (RIL), on Friday, reported over 12 per cent rise in net profit to Rs 4,863 crore in the June 2023 quarter, the company said in a filing. The company posted a net profit of Rs 4,335 crore in the same period a year ago.
The total income of Reliance Jio during the reported quarter rose to Rs 24,127 crore from Rs 21,995 crore a year ago.
The revenue from operations increased by 9.9 per cent to Rs 24,042 crore during the reported quarter from Rs 21,873 crore in the June 2022 quarter.
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Jio has been investing heavily in network infrastructure to grab a bigger market share. Earlier this month, Reliance Jio launched the 'Jio Bharat V2' 4G smartphone for just Rs 999. According to the company, this is the lowest entry price for an internet-enabled phone in the country and will help in the transition ]from 2G to 4G networks. It said that the new 'Jio Bharat' smartphone will enable existing 250 million feature phone (2G) users with internet via the 'Jio Bharat' platform that leverages device and network capabilities to deliver internet-enabled services on entry-level phones.
The beta trial for the first 1 million Jio Bharat phones began in the country on July 7.
"There are still 250 million mobile phone users in India who remain 'trapped' in the 2G era, unable to tap into basic features of the internet at a time when the world stands at the cusp of a 5G revolution," said Akash Ambani, Chairman, Reliance Jio. READ MORE
Reliance Industries is set to report its June quarter earnings later in the evening.
(With PTI Inputs)
08:45 PM IST