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Hindustan Times
2 days ago
- Business
- Hindustan Times
Mukesh Ambani pledges support for ongoing relief efforts after Air India crash: 'Deeply pained and anguished'
Reliance Industries Chairman and Managing Director Mukesh D Ambani on Friday expressed deep sorrow over the tragic Air India plane crash in Ahmedabad and extended full support to the ongoing relief efforts. In a statement released by Reliance Industries, Ambani said he, his wife Nita Ambani, and the entire Reliance family were 'deeply pained and anguished by the grave loss of life caused by the tragic plane crash in Ahmedabad.' (Also Read: Father of two boarded ill-fated Air India flight to London 7 days after wife's death) 'We extend our sincere and heartfelt condolences to all those affected by this tragic incident,' he added, assuring that Reliance stands ready to assist in every possible way. "In this hour of grief, Reliance extends its full and unwavering support to the ongoing relief efforts and stands ready to assist in every possible way. We pray that all those impacted find the strength and solace to cope with their unimaginable loss. Om Shanti," the statement read. A day after one of India's deadliest aviation disasters, authorities have launched a full-scale investigation into the crash of an Air India flight in Ahmedabad that left 241 of the 242 people onboard dead. The London-bound Boeing 787 went down just minutes after takeoff on Thursday, crashing into a densely populated residential area and sparking a massive fire. Prime Minister Narendra Modi, who hails from Gujarat, visited the crash site on Friday as officials confirmed that most of the victims' bodies were charred beyond recognition. The aircraft struck a building housing a medical college hostel, killing several students on the ground. As of early Friday, there was no official word on what caused the crash. Investigators were still scouring the debris for the flight data and cockpit voice recorders, commonly referred to as black boxes, that could provide vital clues. Plumes of black smoke continued to rise from the Meghani Nagar neighbourhood near the Ahmedabad airport, where the crash occurred. The city, home to over 5 million people, is the largest in Gujarat and a key urban hub. The government has confirmed that the Aircraft Accident Investigation Bureau (AAIB) is leading the probe in accordance with international aviation protocols. (With agency inputs) (Also Read: Ahmedabad plane crash live updates: PM Modi holds review meeting on Air India tragedy)
The Print
26-04-2025
- Business
- The Print
Jio Platforms net profit up 25.7 per cent to Rs 7,022 cr in Jan-Mar quarter
'Our digital services business achieved record revenue and profit numbers. Steady increase in subscriber base, with an improving mix and increasing user engagement metrics boosted earnings. Strong adoption of our 5G services and our home broadband offerings continues with accelerated addition in subscribers and in the number of home-connects,' RIL Chairman and Managing Director Mukesh D Ambani said in a statement. The company had registered a profit after tax (PAT) of Rs 5,587 crore in the same period a year ago. New Delhi, Apr 25 (PTI) RIL's digital arm Jio Platforms on Friday posted a 25.7 per cent increase in profit after tax to Rs 7,022 crore in the last quarter of the 2024-25 financial year driven by growth in average revenue per user from telecom business due to tariff hike rolled out in July 2024. The consolidated revenue from operations of Jio Platforms grew by 17.7 per cent to Rs 33,986 crore during the reported quarter from Rs 28,871 crore in the March 2024 quarter. Reliance Jio's operational revenue increased by 15.6 per cent YoY during the quarter to Rs 30,018 crore — accounting for about 88 per cent of Jio Platforms' operational revenue. The telecom arm of Jio Platforms, Reliance Jio, posted about 18 per cent increase in operational profit or EDITDA (earnings before interest, taxes, depreciation, and amortisation) to Rs 16,188 crore from Rs 13,734 crore in the March quarter. Jio Platforms' strong revenue was due to the tariff impact and the success that the company is seeing with its home broadband rollout, Reliance Jio Infocomm, head of strategy, Anshuman Thakur said during the investor presentation. JioHome– the home-based broadband services connection arm, crossed 1.8 crore subscriber mark at the end of FY'25 recording an addition of about 15 lakh customers during the reported quarter. The fixed wireless service of the company, AirFibre, crossed 56 lakh subscriber mark. The average revenue per user (ARPU) grew by 13.5 per cent to Rs 206.2 during the March quarter from Rs 181.7 in the March 2024 quarter. The customer base of Reliance Jio grew by 61 lakh to 48.82 crore on a quarterly basis. 'We continue to break all records for data consumption. This is not only an Indian but a global record. The growing 5G subscriber mix as well as home connects adding to the data traffic mobility and now 5G consumption and customers uptake of 5G is very clearly visible,' Thakur said. The per capita data consumption on RJIL network reached 33.6 GB per month during the reported quarter. 'The per capita consumption for consumers when on a 5G network is significantly higher. People are finding the usage to use more data. We believe that stickiness will give us the ability to monetise that more as we go forward. We have really not started monetising 5G so effectively,' Thakur said. Jio sees monetisation opportunity in future with people getting into the habit of 5G data consumption. '45 percent of data that people today are consuming is being offered to them free of cost. They are not really paying for it but they're getting into the habit of consuming content consuming data consuming 5G services. We believe that's a very big opportunity for us in the same way that it was a big opportunity for us in 2016,' Thakur said. Jio had disrupted the Indian telecom market with free unlimited voice and data services in 2016 and became the fastest-growing company in the world. 'That differentiated data capacity creation that we had done subsequently led to the revenue market share. Finally it has to reflect at some point in time. We are seeing a similar trend now beginning to emerge here and we see this as a massive opportunity as far as wireless services are concerned,' Thakur said. For the year ended March 31, 2025, Jio's PAT grew by about 22 per cent to Rs 26,120 crore from Rs 21,434 crore in the year-ago period. Revenue from operations of Jio Platforms grew by about 17 per cent to Rs 1,28,218 crore in FY25 from Rs 1,09,558 crore in FY24. 'JPL revenue increased by 16.9 per cent Y-o-Y led by higher ARPU on account of tariff revisions for mobility services and improving subscriber mix. Strong growth in home connects and scale-up of digital services also contributed to revenue growth,' the statement said. PTI PRS PRS MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
