Reliance Jio Infocomm Limited has released its consolidated financial results for the quarter ended (QE) September 30, 2024. The company reported a profit after tax of Rs 65.39 billion during the reported quarter as compared to 52.99 billion for QE September 30, 2023. Its revenue from operations rose to Rs 317.09 billion during the quarter under consideration compared with Rs 268.75 billion as of September 30, 2023.
As per the company, average revenue per user (ARPU) increased sequentially to Rs 195.1 as compared to Rs 181.7 as of September 30, 2023, due to partial follow-through of the tariff hike and a better subscriber mix. In addition, earnings before interest, tax, depreciation and amortisation (EBITDA) increased to 159.31 billion as compared to 135.28 billion as of September 30, 2023.
Commenting on the results, Akash M Ambani, chairman, Reliance Jio Infocomm Limited, said, “Right from inception, Jio has focused on deep tech innovation to create customer and shareholder value. The ongoing transformation created by Jio True5G and JioAirFiber in India’s digital landscape is a testament to this approach. Artificial intelligence (AI) is creating the next runway for this transformation, and Jio is committed to developing the world’s best AI ecosystem in India, for all Indians. Jio is committed to delivering robust shareholder returns and has demonstrated strong uplift in financial performance in the current quarter.”
