Reliance Jio Q1 Result: India’s largest telecom operator Reliance Jio Infocomm on Friday reported a nearly 24 per cent rise in its standalone net profit at Rs 4,335 crore for the June 2022 quarter.
According to a filing, billionaire Mukesh Ambani-led Reliance Jio posted revenue from operations of Rs 21,873 crore in the recently ended quarter, up 21.5 per cent over the year-ago period.
Jio’s Q1 scorecard comes at a time when the telecom market is gearing up for the arrival of 5G services, which will usher in ultra-high speeds (about 10 times faster than 4G) and bring new-age services and business models.
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The countdown to the 5G spectrum auction has begun, and a total of 72 gigahertz (GHz) radio waves worth at least Rs 4.3 lakh crore will be put on the block during the upcoming auction beginning July 26.
Jio added over 31 lakh mobile users in May
According to TRAI data released on Tuesday, Jio has consolidated its lead in the market with over 31 lakh mobile subscribers in May.
Sunil Mittal-led Bharti Airtel added 10.27 lakh subscribers in May, taking its mobile user base to 362.1 million.
According to the Telecom Regulatory Authority of India’s (TRAI) monthly subscriber data, Reliance Jio gained 31.11 lakh wireless subscribers, taking its mobile subscriber base to 40.
87 crores.
Debt-ridden Vodafone Idea lost 7.59 lakh wireless subscribers, taking its subscriber base to 25.84 crore in the same period