Jio Platforms Soars with 25% Profit Surge and Expanding 5G Reach

Jio Platforms, part of Reliance Industries, reported a 25% surge in net profit to Rs 7,110 crore for the June quarter. Revenue rose 19% YoY to Rs 41,054 crore, driven by subscriber growth in digital services. Jio's 5G subscribers soared past 200 million, cementing its global leadership in FWA services.

Jio Platforms, a subsidiary of Reliance Industries, announced a remarkable 25% year-on-year increase in net profit, reaching Rs 7,110 crore for the quarter ending June. This surge is accompanied by a 19% YoY boost in gross revenue to Rs 41,054 crore, fueled by significant growth in subscriber numbers.

The company's financial strength stems from expanding its subscriber base across its mobility and home sectors, enhancing customer engagement and digital services, according to the recently released earnings report. Jio Platforms, under Mukesh Ambani's leadership, has achieved a milestone of over 200 million 5G subscribers and 20 million home connections.

Additionally, Jio AirFiber has emerged as the largest Fixed Wireless Access provider globally, with a subscriber base of 7.4 million. The company's impressive performance is reflected in the rise of Average Revenue Per User to Rs 208.8. Akash Ambani highlighted the role of Jio's technology infrastructure in leading India's 5G and broadband landscape, pivotal for the country's AI development.

(With inputs from agencies.)