Jio Platforms Q1 net zooms 45% to ₹3,651 crore

Jio Platforms on Friday posted a nearly 45 percent year-on-year jump in its net profit for the June quarter at ₹3,651 crore, fuelled by robust subscriber adds and a surge in data usage.

Revenue from operations of Jio Platforms that houses India’s youngest but largest telecom firm Jio and apps came in at ₹18,952 crore in Q1 FY22, up 9.8 percent over the year ago period.

Jio said it remains optimistic about overall demand scenario despite challenges, and exuded confidence that it will be the first to launch full-fledged 5G services in India.

“This was a tough quarter for the business because of COVID related disruptions…on-the-ground situation was not good, especially April and May both months, and even now recovery is just about beginning.