Reliance Jio Infocomm unveiled its Q2 results on Friday, marking the latest financial quarter that saw the most modest growth in profits over the past seven quarters. The subdued financial performance can be attributed to increased expenses and the absence of tariff adjustments.
In the July-September quarter, Jio's net profit saw a 12 percent increase, reaching Rs 5,058 crore, as compared to Rs 4,518 crore during the same period in the previous year.
The revenue for this period reached Rs 24,750 crore, marking a 10 percent year-on-year (YoY) increase.
For the quarter, the company posted an EBITDA (earnings before interest, tax, depreciation, and amortization) of Rs 12,953 crore.
Conversely, expenses saw a 9 percent surge, amounting to Rs 18,063 crore.
It's noteworthy that during this quarter, Jio refrained from introducing any tariff adjustments, opting for a different approach.
The company is actively implementing strategies to expand its user base, and this includes the recent launch of an affordable 4G phone and the introduction of the wireless broadband service known as Jio AirFiber.
