Reliance Jio, India’s largest telecom operator, on Friday logged a 12.2 per cent rise in its net profit for the December quarter (Q3) to Rs 5,208 crore. Telco’s net profit stood at Rs 4,638 crore in the corresponding period of the previous year, according to an exchange filing.
Jio’s revenue from operations increased 10.3 per cent to Rs 25,368 crore in the third quarter against Rs 22,998 crore in the year-ago period. Its revenue from operations climbed 10.3 per cent, snapping five straight quarters of slowing growth.
According to Reuters, Jio, the first Indian telecom operator to report results for the quarter, was expected to post revenue growth of 10.3 per cent-12 per cent year-on-year (YoY) and a 17 per cent rise in profit, according to analysts.
Jio’s Earnings before interest, taxes, depreciation, and amortization (EBITDA) also jumped 12 per cent in the three-month quarter ended December 31.
Total data traffic on Jio Network increased 32 per cent to 38.1 exabytes during the December quarter.
Meanwhile, Jio, the telecom and digital arm of billionaire Reliance Ltd, continues to be the strongest Indian brand, ahead of likes of Life Insurance Corporation and State Bank of India, according to the latest report ‘Global-500 2024’ published by Brand Finance.
Jio had topped India’s strong brands in Brand Finance’s 2023 rankings as well. In the 2024 ranking, Jio is placed at the 17th position among the world’s strongest brands with a Brand Strength Index of 88.9 in the list led by WeChat, YouTube, Google, Deloitte, Coca Cola and Netflix.
LIC is placed at the 23rd place on the list, followed by SBI at 24th rank. It is ahead of brands like EY, and Instagram.
“Jio, a relatively new entrant in the telecommunications sector, emerges as the strongest brand with a notable 14 per cent increase in brand value to USD 6.1 billion, alongside a high brand strength index score of 89.0 and associated AAA brand rating,” the report said.
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