Reliance Jio posts 28% rise in Q2 profit
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2 years ago 06:00:25am Television

Reliance Jio posts 28% rise in Q2 profit

New Delhi, 22-October-2022, By IBW Team

Reliance Jio posts 28% rise in Q2 profit

Reliance Jio Infocomm on Friday posted a 28 percent year-on-year rise in its net profit for the September quarter at Rs 4,518 crore.

Its net profit stood at Rs 3,528 crore in the same period previous fiscal, the telco said in a regulatory filing.

The revenue from operations jumped 20.2 percent to Rs 22,521 crore for the just-ended quarter, from Rs 18,735 crore in the year-ago period, PTI reported from New Delhi.

The Q2 scorecard comes amid large-scale network deployments across the country for 5G services, the much-talked-about next-generation technology that promises to ring in a new era of turbocharged speeds, lag-free connectivity, and new-age applications in India, the world’s second-biggest smartphone market after China.

Earlier this month, Jio announced it will start the beta trial of its 5G services in four cities of Delhi, Mumbai, Kolkata, and Varanasi from October 5 with a select set of customers.

In the media statement on its 5G services, as reported by Indianbroadcastingworld.com, Jio had said with over 425 million users, its mission with 5G is to speed up India’s transformation into a digital society.

“This connectivity and technology will help serve humanity by bettering lives and providing increased livelihood.  Jio’s True-5G is built on the ‘We Care’ principle and will bring transformational changes across education, healthcare, agriculture, skill development, small, medium and large enterprises, IoT, smart homes and gaming, impacting 1.4 billion Indians,” the telco had stated earlier this month.

The Jio welcome offer for 5G services includes unlimited 5G data with up to 1Gbps speeds and invited ‘Jio Welcome Offer’ users will be automatically upgraded to the Jio True 5G service without needing to change their existing Jio SIM or 5G handset.


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