Reliance Industries, led by Mukesh Ambani, announced its Q3 results for 2024 with a 7.38% increase in consolidated net profit and a 7.8% jump in consolidated EBITDA as compared to the previous year. The company also reported outstanding debt of ₹3,50,453 Crore and cash and cash equivalents of ₹2,34,988 Crore. Its telecom arm, Jio Platforms, witnessed a 19.2% YoY rise in revenue and a total subscriber base of 48.2 Crore as of December 2024. The company's strong performance reflects its continued growth and stable financial position in the market.
Reliance Jio Infocomm, the telecom arm of Reliance Industries, witnessed a 12% increase in net profit for the third quarter of 2023-24. This was driven by a 10.3% increase in revenue from operations and a 2% increase in ARPU. The company's 5G network carries one-fourth of its mobility data traffic, and customer engagement remains strong. Chairman and managing director Mukesh D. Ambani attributes the growth to the strong uptake of Jio's digital services.