Reliance Jio Q1 Results: Net profit up nearly 24% on year

Reliance Jio Infocomm, the unit of Reliance Jio Platforms that houses the company’s mobility business, reported a nearly 24% on-year rise in net profit in the first quarter of fiscal year 2022-23.

Net profit for the quarter ended June 30 was Rs 4335 crore, compared to Rs 4173 crore in the previous quarter, and Rs 3501 crore a year before.

Revenue stood at Rs 21,955 crore, up nearly 5% from Rs 20, 945 crore in the March quarter, and up around 22% from Rs 18,008 crore the year before.

Profit before tax for the first quarter of the current fiscal was Rs 5818 crore.

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