Jio Platforms net profit up 12.5 percent in Q1 with Rs 5098 crore

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Reliance Group’s digital services company Jio Platforms’ net profit increased by 12.5 per cent year-on-year to Rs 5,098 crore in the April-June quarter due to increase in customer base and better average revenue. Jio Platforms’ net profit in the same quarter a year ago was Rs 4,530 crore. Jio Platforms includes Reliance’s telecom arm Jio Infocomm, some startups and music and video streaming apps.

According to quarterly results announced on Friday, its operating income rose 11.3 per cent to Rs 26,115 crore in the April-June period compared to Rs 23,467 crore in the year-ago period.

Nine million net customers were added in the quarter and total data traffic grew 28 percent to 33.2 billion gigabytes. Average revenue per customer (ARPU) also increased by 2.8 per cent to Rs 180.5 in the June quarter.

Reliance Jio Infocomm Chairman Akash Ambani said, ‘Jio is making rapid progress in expanding its True 5G network. Jio is on the path to setting up 5G network across the country before December this year.

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