Reliance Jio Profit Rises 28% To Rs 4,518 Crore After Akash Ambani Takes Control

Reliance Jio on Friday reported net profit of Rs 4,518 crore for quarter ended September 2022, marking an increase of 28 per cent from Rs 3,528 crore in the same quarter last year. This is the first earnings report after Akash Ambani took control of the company as chairman in June this year.

Jio's revenue from operations came in at Rs 22,521 crore, up 20 per cent from Rs 18,735 crore in the same period last year.

Its total expenses came in at Rs 16,571 crore  compared with Rs 14,018 crore in the year ago period.

During the quarter, Jio acquired 25,036 MHz of spectrum in 700 MHz, 800 MHz, 1800 MHz, 3300 MHz and 26 GHz band across the 22 telecom circles for a period of 20 years at a total price of Rs 87,947 crore in the spectrum auction conducted by Department of Telecommunications (DoT), the company said.