Jio net profit up 12% YoY in Q1FY25, marginally misses estimates
Reliance Jio, the telecom unit under Jio Platforms Limited (JPL), reported 11.9% on-year growth in net profit for the fiscal first quarter.
Net profit stood at Rs 5,445 crore for the three months ended June 30, 2024, as compared with Rs 5,337 crore in the previous quarter and Rs 4,863 crore a year ago.
Jio’s Q1 net profit was marginally lower than the Rs 5,449 crore average of analyst estimates compiled by ET.
The Mukesh Ambani-led telco’s June quarter revenue from operations increased by 1.9% sequentially at Rs 26,580 crore compared to Rs 26,081 crore in the March quarter and Rs 24,129 crore a year ago.
Jio’s finance costs in the June quarter, FY25, were higher by 9.6% sequentially at Rs 1,101 crore compared to Rs 1,004 crore in the March quarter, FY24. Quarterly access charges came in higher 23% at Rs 262 crore compared to Rs 213 crore in the previous quarter.
Shares of Reliance Industries (RIL), Jio’s parent, closed around 1.92% lower at Rs 3109.50 on the BSE Friday. The Jio Q1 results were declared shortly after market hours.
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