Image Source : PTI Reliance Jio Q1 results announced Reliance Jio Q1 results: India’s largest telecom operator Reliance Jio Infocomm on Friday reported a nearly 24 per cent year-on-year rise in its standalone net profit to Rs 4,335 crore for the June 2022 quarter. Billionaire Mukesh Ambani-led Reliance Jio clocked revenue from operations of Rs 21,873 crore in the just-ended quarter, which was 21.5 per cent higher than the year-ago period, according to a filing. Jio’s Q1 scorecard comes at a time when the telecom market is poised for the advent of 5G services, which will usher in ultra-high speeds (about 10 times faster than 4G) and bring new-age services and business models. ALSO READ: Akasa Air, Rakesh Jhunjhunwala-backed airline, opens flight ticket bookings The countdown to 5G spectrum auctions has begun, and a total of 72 GHz (gigahertz) of radiowaves worth at least Rs 4.3 lakh crore will be put on the block during the upcoming auction, scheduled to begin on July 26. Jio adds over 31 lakh mobile users in May Jio cemented its lead in the market as it gained over 31 lakh mobile subscribers in May, according to the Trai data released on Tuesday. Sunil Mittal-led Bharti Airtel added 10.27 lakh subscribers in May, taking its mobile user tally to 36.21 crore. According to monthly subscriber data by the Telecom Regulatory Authority of India (TRAI), Reliance Jio gained 31.11 lakh wireless subscribers, taking its mobile customer count to 40. 87 crore. Debt-ridden Vodafone Idea lost 7.59 lakh wireless subscribers, and its subscriber base slid to 25.84 crore in the same period Latest Business News
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