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Jio Platforms posts its highest quarterly revenue yet with $3.3 billion

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India’s largest telco has concluded 5G coverage planning in 1,000 Indian cities, with the 5G network set to come later this year.
Jio Platforms has recorded its highest quarterly gross revenue to date, posting ₹24,176 crore ($3.3 billion) for the third quarter, which is an almost 14% improvement from a year ago. Jio Platforms chairman and managing director Mukesh Ambani attributed the growth to “key consumption baskets” off the back of the festive season and lockdowns easing in India. “Our digital services business has delivered broad-based, sustainable, and profitable growth through improved customer engagement and subscriber mix,” Ambani said. The revenue growth culminated in the company’s net profit similarly seeing an uptick, with that figure rising 9% year-on-year to ₹3,795 crore ($511 million). Jio Platform’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter was also its highest ever, ₹10,008 crore ($1.3 billion), marking an 18% increase.

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