Mukesh Ambani's son Akash Ambani-led Reliance Jio's profit jumps in 4th quarter to Rs....
The company's profit was buoyed by subscriber additions and rising traffic.
Mukesh Ambani leads India's largest company by market cap, Reliance Industries. He is the richest man not just in India, but in Asia. According to Forbes, he has a real-time net worth of Rs 975570 crore. His Reliance has a market cap of Rs 20.02 lakh crore. The company has released its Q4 results including Reliance Jio, which is led by his son Akash Ambani.
Reliance Jio, India’s largest mobile network operator, is run by Jio Platforms Ltd. The company on Monday reported a 12 per cent year-on-year rise in consolidated net profit for the March quarter to Rs 5,583 crore. It was buoyed by subscriber additions and rising traffic. However, ARPU remained flat sequentially at Rs 181.7.
The quarterly gross revenue at Rs 33,835 crore was up 13.3 per cent more than the year-ago period, while the revenue from operations rose 13.4 per cent to Rs 28,871 crore for Jio Platforms, which houses Reliance Industries' telecom and digital businesses.
Akash has been serving as the chairman of Reliance Jio Infocomm Limited (RJIL) since June 2022. He spearheads the creation of products and services that leverage new-age technologies like 5G, Artificial Intelligence. Akash exuded confidence that the continued acceleration in growth of JioAirFiber subscriber base and ramp-up of digital services will sustain industry-leading growth for Jio.
(With inputs from PTI)