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Reliance Jio, the telecom arm of Reliance Industries, reported a robust financial performance for the quarter ended March 31, 2024, with a 13 per cent year-on-year rise in net profit at Rs 5,337 crore.
The company's quarterly financial report reveals that Jio's net profit increased by 3 per cent from the previous quarter, showcasing its resilience and growth trajectory in the highly competitive telecom sector. Revenue from operations surged to Rs 25,959 crore, marking a 11 per cent year-on-year growth. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) witnessed a significant jump of 11 per cent YoY, reaching Rs 13,612 crore. Margin increased to 52.4 per cent, up by 10 basis points quarter-on-quarter (QoQ) compared to 52.3 per cent. The company's strong financial performance can be attributed to its continued focus on expanding its subscriber base, improving network quality, and offering competitive pricing plans in the market. Jio's efforts in enhancing its digital ecosystem and providing innovative services have contributed to its revenue growth and profitability. The company has been investing in network infrastructure and technology to maintain its leading position in the Indian telecom market. Jio's ability to maintain steady revenue growth and profitability amidst challenging market conditions reflects its strong operational capabilities and strategic vision. With the ongoing rollout of 5G technology and the increasing adoption of digital services, Reliance Jio is well-positioned to further strengthen its market presence and drive future growth. The company's focus on innovation and customer-centric offerings is expected to continue driving its success in the coming quarters. (ANI)
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