Telecom giant Reliance Jio Infocomm Limited reported a 12% year-on-year increase in standalone net profit for the June quarter, reaching Rs 5,445 crore. This significant growth reflects Jio’s strong performance in the market, supported by a steady increase in subscribers.
In a filing with the BSE, the company revealed that its revenue from operations surged by 10% year-on-year to Rs 26,478 crore for the first quarter of the current financial year. This robust financial performance is indicative of Jio’s leading position among the three major private telecom players in the industry.
The net profit of Rs 5,445 crore for the quarter marks an 11.9% year-on-year growth and a 2% sequential rise. This upward trend in profitability is attributed to Jio’s continuous expansion of its subscriber base.
During the quarter, Reliance Jio added 2.2 million net subscribers and 3.5 million active subscribers, achieving its 27th consecutive month of subscriber growth as of May. The Telecom Regulatory Authority of India (TRAI) data showed that Jio’s visitor location register (VLR) ratio improved to 92.1% in May, indicating a solid increase in active users.
In contrast, Vodafone Idea (Vi) experienced a loss of 924,797 users, marking its largest decline in three months. Airtel, on the other hand, maintained the highest active subscriber percentage at 99.07%. Jio dominated the wireless market with a 40.60% share, accounting for 474.62 million users, followed by Airtel at 33.17% with 387.77 million users, and Vi at 18.66% with 218.16 million users.
