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Solid Q3 growth for Jio
Mint Mumbai
|January 20, 2024
Reliance Jio turned out a December quarter performance in line with estimates by some brokerages, clocking 10% annual growth in revenue and 12% in net profit.
Net profit, at ₹5,208 crore, was also up 3% sequentially from Q2FY24; and revenues, at ₹25,368 crore, were up 2.5% over the previous quarter.
Brokerages such as BofA, ICICI Securities and JM Financial had estimated revenue increase to be around 2.3-3% sequentially and about 10% on-year, while net profit was estimated to grow around 2.7-3.8% and 12%, respectively.
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