Reliance Jio April-June Net Profit Rises 23% To ₹67.11 Billion; Revenue Up 17%

Reliance Jio Infocomm Ltd. posted a 23.3% on-year rise in net profit to ₹67.11 billion for the June quarter. Revenue from operations grew 16.6% to ₹308.82 billion. On a sequential basis, profit rose 1% and revenue increased 2.9%.

Other income surged to ₹6.11 billion from ₹1.02 billion a year earlier. Total expenditure for the quarter rose to ₹224.77 billion, driven by an 89% jump in finance costs to ₹20.81 billion. Tax expenses rose to ₹23.05 billion from ₹18.69 billion a year ago.

Network operating expenses stood at ₹84.52 billion, largely flat compared to the previous quarter. Operating margin for the quarter improved to 28.9% from 28.0% in January-March.