Reliance Jio Infocomm, the country's biggest wireless telecom service provider by subscriber base, on Friday reported net profit of Rs 4,716 crore in quarter ended March 2023, that marked an increase of 13 per cent from net profit of Rs 4,173 crore during the same period last year.
Its revenue from operations rose 12 per cent to Rs 23,394 crore compared with Rs 20,901 crore in the year ago period.
Mukesh Ambani-backed Jio's profit and revenue growth was slowest in five quarters on the back of higher expenses and lack of recent tariff hikes, news agency Reuters reported.
Jio's revenue growth was in range of 23 to 29 per cent in the last four quarters, while profit increased by 18 to 21 per cent, the report added.
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Reliance Jio Infocomm's net profit in December quarter rose 28 per cent to Rs 4,638 crore compared with Rs 3,615 crore during the year ago period.
Reliance Industries shares ended 0.14 per cent higher at Rs 2,348 ahead of its earnings announcement.
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