Jio Platforms Q3 net profit rises 11.6% on strong subscriber growth

Jio Platforms Ltd (JPL), which runs India’s largest mobile network operator Reliance Jio, on Friday reported an 11.6 per cent year-on-year (Y-o-Y) increase in net profit to Rs 5,445 crore for the third quarter of FY24 on robust subscriber growth. The net profit rose by 12 per cent and 12.53 per cent in Q2 and Q1, respectively.

On a sequential basis, the holding company for Jio and other digital businesses of the Reliance group, witnessed its net profit rise by 2.8 per cent.

Revenue from operations grew 11.3 per cent Y-o-Y to Rs 27,697 crore in Q3. Growth had stood at 10.7 per cent and 11.2 per cent in the previous two quarters.