Jio Reports 13.7% Quarterly Profit Growth After Stock Market Debut
Jio Platforms, the telecom and digital services company backed by billionaire Mukesh Ambani, reported a 13.7% increase in quarterly net profit on Friday, October 30. This marks its first earnings announcement since its record-breaking stock market debut earlier this week, which made it India’s second most valuable listed company. Net profit rose to ₹83.89 billion from ₹73.79 billion in the same quarter last year, while revenue from operations increased 11.4% to ₹404.75 billion.
The company, which serves more than 530 million customers, added 9.1 million net subscribers during the September quarter. Its average revenue per user (ARPU) increased to ₹218.80, while monthly subscriber churn remained stable at 1.6%. Core earnings also grew 16.6% year-on-year, supported by revenue growth and improved operating margins.
Jio Managing Director Akash Ambani said the company would continue investing in next-generation technologies, including satellite communications, 6G intellectual property and artificial intelligence integrated into voice and data services. Jio continues to focus on expanding its 5G network and strengthening its digital services as competition intensifies in India’s telecommunications market.
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