Jio net profit up 12% YoY in Q1FY25, marginally misses estimates

Reliance Jio, a subsidiary of Jio Platforms Limited, reported an 11.9% year-on-year increase in net profit for Q1 FY25, reaching Rs 5,445 crore. This is a slight rise from Rs 5,337 crore in the previous quarter and Rs 4,863 crore a year earlier. Revenue grew by 1.9% sequentially to Rs 26,580 crore. However, Jio's finance costs and access charges rose, and its Q1 net profit fell marginally short of analysts' expectations. Reliance Industries’ shares closed 1.92% lower following the earnings release.