Tariff hike boost helps Reliance Jio log 24% jump in net profit

Firm clocks revenue of Rs 21,873 cr in first quarter

Reliance Jio’s net profit rose 24.1 per cent to Rs 4,530 crore year-on-year (YoY) in the first quarter of FY23, led by an increase in revenue and data volumes.

Jio (Jio Platforms), gained 9.7 million mobile subscribers in the June quarter, after witnessing a decline for three consecutive quarters. At the end of Q1, its subscriber count stood at 419.9 million.

The company had earlier blamed SIM consolidation for the decline in its customer base.

The revenue from operations for the quarter grew 23.8 per cent to Rs 23,467 crore. The quarterly gross revenue of Rs 27,527 crore was its best ever.

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